<article>Hyderabad-based pharmaceutical company <a style="color: #000080;" href="http://dealstreetasia.com/tag/shila-medicare" target="_blank">Shilpa Medicare Ltd</a> has raised Rs 172.425 crore ($25.5 million) from US-based private equity investor <a style="color: #000080;" href="http://dealstreetasia.com/tag/ta-associates" target="_blank">TA Associates Management Lp</a>.</article>

Hyderabad-based pharmaceutical company <a style="color: #000080;" href="http://dealstreetasia.com/tag/shila-medicare" target="_blank">Shilpa Medicare Ltd</a> has raised Rs 172.425 crore ($25.5 million) from US-based private equity investor <a style="color: #000080;" href="http://dealstreetasia.com/tag/ta-associates" target="_blank">TA Associates Management Lp</a>.
According to a stock market notification Shilpa Medicare has allotted 3.025 million shares to TA FII Investors Ltd at Rs 570 a share.
Also, the drug ingredients maker has co-opted that Naresh Patwari, director at TA Associates, as an Additional (non-executive and non-independent) Director of the .
Founded in 1987, Shilpa Medicare offers active pharmaceutical ingredients (APIs), fine chemicals, intermediates, herbal products and specialty chemical products.
Earlier this year, private equity firm <a style="color: #000080;" href="http://dealstreetasia.com/tag/tano-capital" target="_blank">Tano Capital</a> part-exited its investment in Shilpa Medicare Ltd by selling shares worth Rs 30 crore  ($4.4 million) through open market transactions.
The Mumbai-based mid-market PE firm has sold 6.2 lakh shares through Tano Mauritius India FVCI II in the pharma company at Rs 480.21 per share, aggregating to Rs 29.7 crore. Tano Capital had invested around Rs 30 crore in Shilpa Medicare in 2012. Two years later, Tano invested Rs 75 crore more to raise its holding.
In May Shilpa Medicare had acquired remaining 32.06 per cent stake in <a style="color: #000080;" href="http://dealstreetasia.com/tag/nu-therapeutics" target="_blank">Nu Therapeutics Pvt Ltd</a>, the company said in a stock market disclosure. In 2010, Shilpa Medicare had bought a stake in Nu Therapeutics and then in 2011, it had acquired a controlling stake in the company.
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Pharmaceutical company Shilpa Medicare Ltd has raised Rs 172.425 crore ($25.5 million) from US-based private equity investor TA Associates Management Lp.

India: PE firm TA Associates invests $25.5m in Shilpa Medicare

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India: PE firm TA Associates invests $25.5m in Shilpa Medicare

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