Emil Pharmaceuticals Secures INR 150 Crore: Report The company plans to utilize the fund for rapid expansion and modernization of pharmaceutical formulations' capacities and increasing the footprints in the rest of the world as well as regulated markets

Emil Pharmaceuticals Industries, a Mumbai-based manufacturing company, has reportedly sold a minority stake to secure INR 150 crore from Somerset Indus Capital Partners. The company plans to utilize the fund for rapid expansion and modernization of pharmaceutical formulations' capacities and increasing the footprints in the rest of the world as well as regulated markets.

According to an ET report, the funding shall be Somerset Indus Capital's 5th, and 2nd pharmaceutical funding, from its Fund II.

Emil could also be gearing as much as widen its product basket together with increasing into nutraceuticals, together with having a look at inorganic expansion alternatives complementary to its trade, other sources aware of the deal informed ET. We at Emil are indeed honoured to have such a strong group of investors backing us as we continue to innovate and grow. This funding will allow us to achieve the desired goals of the management," Korday stated as per the report.

"The investment is through a mix of primary INR 120 crore and secondary INR 30 crore sale. The investment outlay may increase in the near future," said Tushar Korday, director, Emil Pharmaceutical, in a statement.

Emil Pharmaceutical Industries Private Limited, company founded by technocrats in 1989 with a vision to manufacture quality medicines. As per the company's website, its mission is to provide excellent quality services to customers. It also added that up to date equipment, outstanding quality structure and satisfying facilities are some key ingredients for success of Emil Pharmaceutical Industries.