**India Resurgence Fund Seeks $1 Billion Valuation for Synthimed Labs Stake Sale**
The India Resurgence Fund (IndiaRF) has engaged Rothschild & Co to facilitate the sale of a minority stake in Synthimed Labs Pvt Ltd, a company specializing in active pharmaceutical ingredients (APIs) and contract research and manufacturing services (CRAMS). This move comes just over two years after IndiaRF acquired the asset, with the fund aiming for a valuation of approximately $1 billion.
IndiaRF, a collaboration between the Piramal Group and Bain Capital, is looking to divest a stake valued between $250 million and $300 million. Sources indicate that the process began two to three weeks ago, with several private equity firms already approached regarding the opportunity.
The investment firm has set its sights on a valuation of around $1 billion for Synthimed Labs, which was formed following IndiaRF’s acquisition of the generic API and CRAMS business from Ind-Swift Laboratories Ltd in March 2024 for ₹1,650 crore. This acquisition allowed IndiaRF to expand its portfolio, which also includes investments in various sectors such as healthcare, hospitality, and infrastructure.
Synthimed Labs, incorporated on July 25, 2023, is recognized as a significant player in the API market, catering to numerous domestic pharmaceutical companies. The company is positioned as one of the leading standalone merchants in the API sector, which is vital to India’s pharmaceutical landscape.
India continues to be the largest global supplier of generic medicines, contributing to 20% of the worldwide supply, as reported by the India Brand Equity Foundation (IBEF). Additionally, India plays a crucial role in the supply of affordable vaccines, meeting a substantial portion of global demand.
As IndiaRF prepares for this stake sale, it is also in the process of raising its second fund, having already made investments in companies like Anthea Aromatics, a manufacturer of specialty aroma chemicals.
**FAQ**
*What is the significance of Synthimed Labs in the pharmaceutical industry?*
Synthimed Labs is a key player in the production of APIs and CRAMS, essential components of the pharmaceutical supply chain in India, which is the largest supplier of generic medicines globally.