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(Eds: Adding details) New Delhi, Jun 27 () The US-based global investment firm Carlyle Group Inc will buy 20 per cent stake in Piramal Pharma for around USD 490 million (over Rs 3,700 crore), a statement said on Saturday. The capital raise will accelerate Piramal Pharma's organic and inorganic growth plans, the Ajay Piramal-led Piramal Enterprises and Carlyle Group said in the joint statement. "... CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc has agreed to invest fresh equity capital for a 20 per cent stake in Piramal Pharma Ltd...," it said. The transaction values the pharma business at an enterprise value (EV) of USD 2.775 billion (over Rs 20,980 crore), with an upside component of up to USD 360 million (over Rs 2,720 crore) depending on the company's FY21 performance, the statement said. "Based on the EV (excluding the upside component), exchange rate and pharma net debt as on March 31, 2020, the estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to USD 490 million (over Rs 3,700 crore)," it added. The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal. The transaction is expected to close in 2020, it added. "This is an affirmation of the strength of our ability to build new, attractive and scalable businesses with a significant runway for continued organic growth and opportunities for consolidation," Piramal Enterprises Chairman Ajay Piramal said. This infusion of funds "will further strengthen our balance sheet and provide us with a war chest for the next phase of our strategy," he added. Asked about the stake Piramal Enterprises will hold in the company post the transaction, Ajay Piramal told it will have 80 per cent stake. On whether Piramal Enterprises Ltd (PEL) will list Piramal Pharma going forward, he said: "We have publicly stated in the past, that in the medium term we will separate the two PEL businesses. This is a step closer towards that endeavour." PEL has two businesses -- pharma and financial services. Piramal Enterprises Executive Director Nandini Piramal said, "This fresh growth investment into our pharma business will be used as growth capital for the pharma businesses to expand capacity across our sites as well as to tap attractive acquisition opportunities within and outside India." "In the interim, the proceeds from this capital raise may also enable us to further strengthen our balance sheet through deleveraging in the near term," she added. Carlyle Asia Partners advisory team MD Neeraj Bharadwaj said Piramal Pharma has built a strong, diversified pharma business with a solid market position and scale in each of its core business segments of pharma solutions, critical care and consumer products. "Given global pharma industry trends, we see attractive opportunities for organic as well as inorganic growth in each of these businesses," he added. In similar vein, Carlyle Asia Partners advisory team Co-Head Greg Zeluck said, "This investment marks the beginning of an important partnership with the Piramal family, and further underscores our commitment to the Indian market." Carlyle has a history of investing in the healthcare sector, both in India and globally. It had in May announced a majority stake investment in Indian animal healthcare firm SeQuent Scientific, which is expected to close in the third quarter of 2020, the statement said. It has also made investments in Medanta Medicity Hospital, and diagnostic chain Metropolis Healthcare, among others in the Indian healthcare sector. Rothschild &amp; Co served as financial advisor and Cyril Amarchand Mangaldas and Covington &amp; Burling LLP served as legal advisors to Piramal Enterprises Ltd on this transaction. JP Morgan served as financial advisor and AZB &amp; Partners and White &amp; Case served as legal advisors to Carlyle. AKT ABM ABM

Carlyle Group to buy 20 pc stake in Piramal Pharma for over Rs 3,700 cr

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Get your tickets now from <a href="https://in.bookmyshow.com/events/business-insider-global-trends-festival/ET00137578" data-type="tilCustomLink">BookMyShow</a>.</li></ul> When billionaire Ajay Piramal sold his successful pharmaceutical company Nicholas Piramal to Abbot in 2010, many people were surprised. After all, he has been in this business for decades, but few remember that in the late 80s, before he purchased Nicholas Labs, he was running a textiles company and a machine tools company! Today, the $4 billion Piramal Enterprises spans sectors as varied as pharmaceutical and financial services and makes a third of its revenue outside India. The larger Piramal Group has interests in real estate and glass manufacturing as well, with offices in over 30 countries. After he completed business management from Jamnalal Bajaj Institute of Business Studies, entered the family business, his father handed him a newly acquired company called Miranda Tools to run - an experience that later helped him deal with the many companies he would acquire in his illustrious career ahead. A wide portfolio A young Piramal had initially faced many hardships including the labour troubles in the textile sector, before he made his entry into pharmaceuticals. That’s when the world saw his penchant for striking deals - a move which diversified the company across the entire range of drugs. He scooped up the domestic manufacturing plants of many multinational pharma majors like Roche, Aventis and more and it helped that back then MNCs were exiting India. Thanks to the many deals he made including buying a glass maker and bulk drug maker and by the time he sold the company, it had presence across the therapeutic range right from antibiotics to dermatological drugs to cardiovascular products. The <a href="https://www.business-standard.com/article/specials/of-mergers-and-spin-offs-198030201049_1.html">merger with Boehringer Manheim </a>added diabetics and even diagnostics range to its ever growing portfolio that helped it balance risks as a number of drugs’ prices were controlled by the government in the 2000s. The joint venture specialist Piramal also took a visionary approach to his business unlike most of his peers who were reverse engineering drugs in the domestic business earning ire from Big Pharma. Instead he struck joint ventures with MNCs like Boots and Allergan - some of whose brand rights were transferred to the business. By the time the company was sold to Abbott at a spectacular valuation which is 30 times the profit it was making, Nicholas Piramal had six Over-The-Counter brands <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/the-inside-story-of-how-ajay-piramals-pharma-empire-received-a-boost-after-the-abbott-sale/articleshow/62891694.cms">in the top sellers list </a>along with presence in every other therapeutic range. But Piramal’s move to sell to Abbot that left him with <a href="https://www.forbes.com/sites/naazneenkarmali/2014/04/17/in-a-dealmaking-spree-indian-billionaire-ajay-piramal-places-333-million-bet-on-financial-services/#2f6f7c695c7d">$1.6 billion of personal wealth</a>, was also not his career best masterstroke. That distinction is reserved to investment and exit in Vodafone India within <a href="https://www.forbes.com/sites/naazneenkarmali/2014/04/17/in-a-dealmaking-spree-indian-billionaire-ajay-piramal-places-333-million-bet-on-financial-services/#2f6f7c695c7d">two years that left </a>him with around $500 million gain with over 50% returns! He was one of the few people who would ever gain from Vodafone India, which later got mired in multiple controversies and has been struggling to survive in the recent past. It is this knack to sense opportunities quickly and clinch deals at the right time has earned him an interesting title - the <a href="https://www.business-standard.com/article/companies/is-ajay-piramal-the-warren-buffett-of-india-114041501418_1.html">Warren Buffet of India</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/news/get-inspired-by-prashant-chandrasekar-the-ceo-of-us-based-stack-overflow-at-global-trends-festival-2020/articleshow/78033494.cms" data-type="tilCustomLink">Get inspired by the Bengaluru boy who is now the CEO of US-based Stack Overflow at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/deepak-parekh-chairman-hdfc-a-legend-from-indias-financial-capital-at-global-trends-festival-2020/articleshow/78012923.cms" data-type="tilCustomLink">Deepak Parekh, a legend from India’s financial capital, must be on your watchlist at Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/business/news/meet-vani-kola-managing-director-kalaari-capital-the-unicorn-hunter-at-global-trends-festival-2020/articleshow/77999658.cms" data-type="tilCustomLink">Meet Vani Kola, the unicorn hunter, at Global Trends Festival 2020</a>

Don’t miss Ajay Piramal, a master deal maker with business in 30 countries, at the Global Trends Festival 2020

<ul><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival</a> is one of the world's most prestigious events which will be live from Oct 19-23.</li><li>While nobel laureates, some of the biggest political and corporate icons will provide thought leadership, it's a great platform to network with CXOs from around the world.</li><li><a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink">Global Trends Festival 2020</a> is presented by <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://aws.amazon.com/" data-type="tilCustomLink">AWS</a>.</li><li>Register for the <keyword id="10088455" type="UNKNOWN" weightage="20" keywordseo="global-trends-festival">Global Trends Festival</keyword> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/trendsform_2020.cms" data-type="tilCustomLink">here</a>.</li></ul> <keyword id="192486" type="PERSON" weightage="20" keywordseo="Nandini-Piramal">Nandini Piramal</keyword> has worked hard to make her mark and be recognised for her own merits in this competitive landscape. And it was no easy feat to achieve, given her famous last name and the legacy built by her parents, who are super achievers. She is the daughter of Ajay Piramal, known as the man with the Midas touch, and Swati Piramal, who has helped shape policies and governance related to healthcare. Nandini joined the Piramal Group in 2009. And a year later, she played an instrumental role in the sale of Piramal Healthcare’s main formulations business to Abbott in a multi-billion dollar deal. However, the Oxford and Stanford educated Nandini has no intention of giving up on the pharma business. She carved her niche with the OTC or over-the-counter drugs business. When she took over, the company had six brands and ranked <a href="https://www.businesstoday.in/current/economy-politics/piramal-enterprises-boosts-otc-business-brand-acquisitions/story/265342.html">40 in an industry </a>crowded with FMCG majors like Dabur and Unilever and pharma majors like Cipla and Sun Pharma. Since then, she has been acquiring OTC brands, re-launching products, <a href="https://www.businesstoday.in/magazine/most-powerful-women/the-right-dosage/story/416359.html">and improving </a>distribution with phenomenal results. Some of its brands, like Saridon and i-Pill, are amongst the top sellers within their category. When the COVID-19 pandemic spread across the world, the unit also quickly launched sanitizers, wipes, and much more to cater to the growing demand in a new world. Nandini dons multiple hats and also heads HR and IT at the Piramal Group. She credits most of her success to being the daughter of a working mother, apart from being one herself. At the Global Trends Festival 2020, she will share insights on the need to increase women’s participation in the economy and help transform India’s potential. SEE ALSO: <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/catch-kavin-mittal-one-of-indias-youngest-billionaire-entrepreneurs-at-the-global-trends-festival-2020/articleshow/78600950.cms" data-type="tilCustomLink">Catch Kavin Mittal, one of India’s youngest billionaire entrepreneurs, at the Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/watch-sangita-reddy-president-ficci-speak-about-women-entrepreneurship-and-economic-leadership-at-the-global-trends-festival-2020/articleshow/78574587.cms" data-type="tilCustomLink">Watch Sangita Reddy, President, FICCI, speak about women entrepreneurship and economic leadership at the Global Trends Festival 2020</a> <a href="https://www.businessinsider.in/trendsfestival" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/business/news/watch-out-for-prajakta-koli-the-social-media-queen-at-the-global-trends-festival-2020/articleshow/78566982.cms" data-type="tilCustomLink">Watch out for Prajakta Koli, the social media queen at the Global Trends Festival 2020</a>

Watch out for Nandini Piramal on breaking barriers, and transforming businesses at the Global Trends Festival 2020

<ul><li>The <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> has ordered a fresh enquiry of banned combination drugs after repeated reviews and recommendations from <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s drug advisory panel. </li><li>The Court announced its decision while hearing a plea from drug manufacturers <keyword id="45692" type="DOMAIN" weightage="20" keywordseo="Piramal-Healthcare">Piramal Healthcare</keyword>, <keyword id="78710" type="COMPANY" weightage="20" keywordseo="GlaxoSmithKline">GlaxoSmithkline</keyword> and Juggat Pharma who have challenged the ban. </li><li>India’s drug advisory panel has said these drug combinations could be potentially toxic to consumers and lack therapeutic justification. </li></ul> A week after the government <a href="https://www.businessinsider.in/indian-government-bans-several-painkillers-diabetes-and-antibiotic-drugs-over-safety-concerns/articleshow/65793205.cms">banned</a> the sale and distribution of over 328 ‘fixed dose combination’ drugs including several painkillers over safety concerns, the Supreme Court has lifted the <a href="https://www.livemint.com/Politics/LuFyd157Sb7PocoD5JtaZL/Supreme-Court-lifts-ban-on-sale-of-Saridon-and-2-other-drugs.html">ban</a> on popular painkiller <keyword id="1840022" type="PERSON" weightage="20" keywordseo="Saridon">Saridon</keyword> and two other drugs citing a technicality. A Supreme Court bench announced its decision while hearing a plea from drug manufacturers Piramal Healthcare, GlaxoSmithkline and Juggat Pharma who claimed their combination drugs should be allowed as they were first manufactured and granted regulatory clearance before 1988, the cut-off year for the government’s current ban. Earlier this month, the Supreme Court had directed the government to conduct yet another enquiry to evaluate the safety of at least 15 fixed dose combination drugs that were <a href="https://indianexpress.com/article/india/sc-allows-sale-of-saridon-3-other-drugs-5361027/">reportedly</a> manufactured before 1988. It was not immediately clear if Saridon, Piriton expectorant and Dart, the other two drugs granted relief by the court, would still be subject to fresh safety tests. The Supreme Court ordered the fresh enquiry of these combination drugs after repeated reviews and recommendations from India’s drug advisory panel, the Drugs Technical Advisory Board, which has said these drug combinations could be potentially toxic to consumers and lacked therapeutic justification. The most recent ban came three years after the panel had cited similar concerns recommending an outright ban before being ordered to conduct another review by the Supreme Court late last year. A pharmaceutical trade group, the Federation of Pharma Entrepreneurs, representing makers of FDCs affected by the ban has <a href="https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/sc-exempts-saridon-piriton-expectorant-from-governments-ban-list/articleshow/65839739.cms">claimed</a> the government and the safety review panel have not followed due process in instituting the ban. Pharma companies have also <a href="https://indianexpress.com/article/india/sc-allows-sale-of-saridon-3-other-drugs-5361027/">contended </a>the Drug Technical Advisory Board’s review report behind the ban was never given to them. A long battle The government on its part has been seeking to ban these combination drugs -- which contain two or more active ingredients -- for nearly a decade. The review and recommendations have been ongoing for years with India’s Drugs Technical Advisory Board behind these repeated recommendations. According to <a href="https://timesofindia.indiatimes.com/india/govt-bans-popular-painkiller-327-other-unsafe-fixed-dose-drugs/articleshow/65790311.cms">estimates</a> by All India Drug Action Network, one of the petitioners behind the ban, problematic FDCs in India makes up a quarter of the total pharma market in India valued at ₹1.3 trillion ($14 billion) “The people of India have been made the consumers of unsafe medicines for too long and this is one step towards rectifying the grave situation of a pharma market brimming with innumerable irrational FDCs,” the drug network said in a recent <a href="https://aidanindia.wordpress.com/">statement. </a>

Here’s why the Supreme Court has exempted Saridon from the ban on FDCs

<ul><li><keyword id="1979075" type="COMPANY" weightage="20" keywordseo="INDEGENE">Indegene</keyword> is a 23-year-old healthtech solutions provider with interests across pharmaceuticals, biotechnology solutions, and medical devices.</li><li>Both the firms will pick up minority stakes in Indegene, through a primary as well as secondary transaction.</li><li>According to reports, Indegene’s valuation has jumped to $700 million.</li></ul>American private equity giant The <keyword id="44803" type="CITY" weightage="20" keywordseo="Carlyle-group">Carlyle Group</keyword> and investment firm <keyword id="10696504" type="UNKNOWN" weightage="20" keywordseo="brighton-park">Brighton Park</keyword> have pumped in $200 million into Indian healthtech firm Indegene. Both the firms will pick up minority stakes in Indegene, through a primary as well as secondary transaction by buying out existing investors. According to <a href="https://www.business-standard.com/article/companies/indegene-s-valuation-reaches-700-mn-raises-200-mn-from-carlyle-brighton-121020300051_1.html#:~:text=According%20to%20the%20sources%2C%20the,increased%20to%20about%20%24700%20million.">reports</a>, Indegene’s valuation has jumped to $700 million after the deal. Indegene is a 23-year old is a healthtech solutions provider with interests across pharmaceuticals, biotechnology solutions, and medical devices. The company has over 3,000 employees in offices across India, North America, Europe, China and Japan. With the latest investment, the company now aims to expand its global presence and M&amp;A activities. “Carlyle’s commitment to the <keyword id="6354525" type="UNKNOWN" weightage="20" keywordseo="healthcare">healthcare</keyword> sector with their global network and deep pharmaceutical expertise, coupled with Brighton Park’s deep experience in the technology sector and nuanced understanding of our space, makes the two firms the ideal partners to support our company’s continued growth,” said Manish Gupta, co-founder and CEO of Indegene. The company also claims that its revenues grew at around 25% every year for the last ten years. Meanwhile, Carlyle has been ramping up its India presence especially in the health sector. The firm invested in Piramal Pharma; a pure-play animal healthcare company SeQuent; Delhi Medanta Medicity Hospital, and diagnostic center and laboratory operator Metropolis Healthcare. It has also invested in startup unicorns like Delhivery. One of Carlyle’s senior advisors is Aditya Puri, the former HDFC Bank CEO, who has recently joined the PE firm.

Carlyle, Brighton Park invest $200 million in Indian healthtech company Indegene

<ul><li><keyword id="6406769" type="ORGANIZATION" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword> has joined The <keyword id="154947" type="COMPANY" weightage="20" keywordseo="Carlyle">Carlyle</keyword> Group as a senior advisor.</li><li>Puri, who led <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC bank</keyword> for 26 long years, will advise Carlyle on investments across Asia. </li><li>Puri had retired from HDFC on October 26 and was succeeded by Sashidhar Jagdishan.</li></ul>Former HDFC Bank CEO Aditya Puri has joined The Carlyle Group as a senior advisor. Puri, who was at the helm of the HDFC bank for 26 long years and is credited with the bank’s success, will advise Carlyle on investments across Asia. “Carlyle is known for its ability to transform businesses, working closely in partnership with management teams and other key stakeholders to drive sustainable long-term growth. I am very impressed with Carlyle’s track record in a number of key industry sectors, including its leadership position in financial services, not just in India but across Asia. Whether this is with founder-led businesses or large conglomerates, Carlyle’s focus on building better businesses is something I have a great affinity for. It will therefore be a pleasure to act as senior advisor to the Carlyle team in support of their investing activities across Asia,” said Aditya Puri in a statement. Puri had retired from HDFC on October 26 and was succeeded by <a href="https://www.businessinsider.in/finance/banks/news/hdfc-share-price-surge-after-hdfc-bank-appoints-sasidhar-jagdishn-as-the-new-ceo-to-replace-aditya-puri/articleshow/77344967.cms">Sashidhar Jagdishan</a>. One of India’s highest paid CEOs, Puri, had sold his shares in HDFC – worth ₹843 crore, before his retirement. Carlyle has also been ramping up its investments across Asia. In July, the group acquired a 25% stake in Airtel’s Data Centre business. In June, the firm had also invested fresh equity capital for a 20% stake in Piramal Pharma Limited. It was also <a href="https://www.livemint.com/companies/news/carlyle-may-pick-up-2-billion-stake-in-ril-s-retail-arm-11600042534910.html">reportedly</a> looking to pick up a stake in Mukesh Ambani’s Reliance Retail. Carlyle has made several bets across Asia in financial services: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Card </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Repco Home Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ant Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> IIFL </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI Life </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> PNB Housing Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">China Pacific Insurance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">KB Financial Group </td></tr></tbody></table> As of September 2020, Carlyle’s total investment in Asian financial services companies stood at $4.9 billion. “Mr. Puri has been repeatedly accredited as one of the world’s leading global CEOs. We are excited to have him join Carlyle as a senior advisor in Asia, and look forward to leveraging his deep expertise and relationships to source new investment opportunities and to help our portfolio companies build better businesses,” said XD Yang, Managing Director and Chairman of Carlyle Asia. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-ril-second-quarter-earnings-profit-and-revenue/articleshow/78955070.cms">Nearly a third of RIL’s profit is shaved off by the dent in refining</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-banks-aditya-puri-believes-sashidhar-jagdishan-is-the-worthiest-person-to-succeed-him/articleshow/77540644.cms">HDFC Bank's Aditya Puri believes Sashidhar Jagdishan is the 'worthiest person' to succeed him</a>

Former HDFC Bank CEO Aditya Puri joins Carlyle Group —  will advise the global investment firm on Asia bets

A new report by <keyword id="15513448" type="General" weightage="20" keywordseo="CREDAI-Anarock" source="Orion">CREDAI-Anarock</keyword> suggests that India will see a demand for 223 million sq.ft for Grade A warehousing properties over the next three years, requiring about $3.8 billion in funding. Of this, the sector already has a ‘dry powder’ funding of $900 million from existing commitments, according to the CREDAI-ANAROCK report titled 'India Warehousing - A Sunrise Sector'. Demand for Grade A warehousing facilities is constantly rising due to its direct and indirect beneficial impacts on overall operational efficiencies. “Warehousing in India has gained significant attention from investors as the country is poised to upgrade its supply chain to reach its goal towards a $5 trillion economy,” said Shobhit Agarwal, managing director and chief executive officer at <keyword id="10320617" type="General" weightage="20" keywordseo="Anarock-Capital-Advisors" source="Orion">Anarock Capital Advisors</keyword>. <keyword id="9205534" type="General" weightage="20" keywordseo="warehousing-demand" source="Orion">Warehousing demand</keyword> is not only increasing in metro cities but is also seeing a rapid rise in Tier 2 and Tier 3 cities, the report said. According to the report, the absorption of Grade A warehousing increased from 34 million sq. ft in 2018 to 48.5 million sq. ft in 2021 at a compound annual growth rate (CAGR) of 12.6%. Meanwhile, supply in this category rose from 37.8 million sq. ft to 51 million sq. ft in the same period at a CAGR of 10.6%, the report said. “Warehousing demand will continue to grow in future due to increasing demand resulting from increased consumption. Unceasing policy support from the Government in the last few years including infrastructure status to the logistics sector, GST implementation, permitting 100% FDI in warehousing and storage has been crucial in attracting investments in this sector,” Agarwal added. <cmsannotation type="cmsannotation" annotationid="3PL, e-commerce drive warehousing demand" comment="subhead" text="3PL, e-commerce drive warehousing demand">3PL, e-commerce drive warehousing demand</cmsannotation> Third party logistics (3PL), e-commerce, and manufacturing &amp; automotive sectors account for 78% share of warehouse leasing space across the top seven cities, the report said. 3PL has the highest leasing space at 42%, followed by e-commerce, and manufacturing &amp; automotive at 18% each. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share in leasing space </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3PL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">42% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">E-commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing and Automotive </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics and FMCG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pharma/Life Sciences </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr></tbody></table>Source: <keyword id="7825430" type="General" weightage="20" keywordseo="ANAROCK-report" source="Orion">Anarock report</keyword> In terms of warehousing rentals among the top 7 cities, Mumbai Metropolitan Region (MMR) has the highest average rent at ₹27/sq.ft and Hyderabad the lowest at ₹20/sq.ft. According to the report, the western micro markets of Bhiwandi, Chakan and Panvel/Taloja dominate Grade A warehousing space leasing share with 41%. “Warehousing has emerged as one of the most preferred asset classes for investors and developers to balance their real estate portfolios. The warehousing segment is range bound and a high revenue generator. While the IRR (internal rate of return) is higher, the risk is lower, and production is faster. Moreover, this sector is consumption-led, unlike other sectors which are primarily developer-led,” said Harsh Vardhan Patodia, president - CREDAI and CMD at Unimark Group. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/one-in-every-six-indians-has-borderline-diabetes-says-report/articleshow/95497532.cms">One in every six Indians has borderline diabetes says report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/piramal-bains-indiarf-takes-majority-stake-in-social-and-smoke-house-deli-owner-impresario/articleshow/95504410.cms">Piramal-Bain’s IndiaRF takes majority stake in Social and Smoke House Deli owner Impresari</a>

India needs $3.8 billion funding to meet warehousing demand over three years: Report

New Delhi, Jan 15 () Industry body Indian Pharmaceutical Alliance (IPA) on Wednesday said there was no discussion on 'uniform code for pharmaceutical marketing practices' in the meeting convened by Prime Minister Narendra Modi with the healthcare industry on January 1.
 The meeting was called to discuss future road map for growth of the healthcare industry, the IPA said in a statement.
 The focus of the discussion was to promote research and development, build innovation ecosystem, improve access to high-quality medicine and strengthen global competitiveness of the industry, it added.
 The purpose was to take the industry to the next level and leverage opportunities going forward in the pharmaceutical sector besides discussing growth opportunities in the Medtech and hospital sector, IPA said.
 "There was no discussion on uniform code for pharmaceutical marketing practices in the meeting," it added.
 The industry body was reacting to media reports that said the prime minister had warned India's top pharmaceutical companies to strictly adhere to marketing ethics, and not to bribe doctors with women, foreign trips and gadgets.
 The meeting was attended by leading figures such as Satish Reddy from Dr Reddy's, Ajay Piramal from Piramal Group, Pankaj Patel from Cadila Healthcare, Dilip Shanghvi from Sun Pharma, Dr Habil Khorakiwala from Wockhardt and Shobana Kamineni from Apollo Hospitals Group, the statement said. AKT HRS

No discussion on uniform code for pharmaceutical marketing practices in meeting with PM: IPA

New Delhi, Jan 15 () Industry body Indian Pharmaceutical Alliance (IPA) on Wednesday said there was no discussion on 'uniform code for pharmaceutical marketing practice' in the meeting convened by Prime Minister Narendra Modi with the healthcare industry on January 1.
 The meeting was called to discuss future road map for growth of the healthcare industry, the IPA said in a statement.
 The focus of the discussion was to promote research and development, build innovation ecosystem, improve access to high-quality medicine and strengthen global competitiveness of the industry, it added.
 The purpose was to take the industry to the next level and leverage opportunities going forward in the pharmaceutical sector besides discussing growth opportunities in the Medtech and hospital sector, IPA said.
 "There was no discussion on uniform code for pharmaceutical marketing practice in the meeting," it added.
 The industry body was reacting to media reports that said the prime minister had warned India's top pharmaceutical companies to strictly adhere to marketing ethics, and not to bribe doctors with women, foreign trips and gadgets.
 The meeting was attended by leading figures such as Satish Reddy from Dr Reddy's, Ajay Piramal from Piramal Group, Pankaj Patel from Cadila Healthcare, Dilip Shanghvi from Sun Pharma, Dr Habil Khorakiwala from Wockhardt and Shobana Kamineni from Apollo Hospitals Group, the statement said. AKT HRS

No discussion on uniform code for pharmaceutical marketing practice in meeting with PM: IPA

<ul><li>Until 5 pm on November 2, candidates will be allowed to fill the course and college choices in the online registration form on the Medical Counselling Committee (MCC) website.</li><li>Here’s how to register for <keyword id="1701193" type="PERSON" weightage="20" keywordseo="NEET-counselling">NEET counselling</keyword>.</li><li>These are the documents you will be required to carry at the time of reporting to the college. </li></ul>The online registration process for the National Eligibility cum Entrance Test (NEET) 2020 counselling will begin today (October 27) on the Medical Counselling Committee (MCC) website. As per the official notice released last week, students who have cleared the <keyword id="7924571" type="UNKNOWN" weightage="20" keywordseo="neet-2020">NEET 2020</keyword> exam will be eligible to register on the Medical Counselling Committee website mcc.nic.in, till November 2. Until 5 pm on November 2, candidates will be allowed to fill the course and college choices in the online registration form. Unlike earlier, students seeking admission in AIIMS and JIPMER will also get admission through the NEET exam and counselling. How to register for NEET counselling? <ul><li>Go on to <a href="http://mcc.nic.in/">http://mcc.nic.in/</a>. </li><li>Click on UG Medical counselling. </li><li>Register for counselling from the sidebar </li><li>Fill and lock college, along with a course of choice. </li><li>Later the decision will be made, and the seats will be allotted to the candidates.</li></ul>Medical admissions: From registration to seat allotment <ul><li>Qualified candidates can apply for the first round of counselling until 5 pm on November 2 </li><li>Candidates can choose their courses and college preferences online till November 2 </li><li>Seat allotment process will be held on November 3 &amp; 4 </li><li>Results for the first round of seat allotment will be declared on November 5 </li></ul>As a relief to candidates seeking admission to MBBS, BDS colleges, no special documents will be needed at the time of registration since the counselling is being held online. However, they will be required to carry the following documents at the time of reporting at the college. <ul><li>Admit card issued by National Testing Agency (NTA) </li><li>Result/ Rank letter </li><li>Date of birth certificate </li><li>Class 10 and 12 mark sheets and certificates </li><li>Eight passports sized photographs </li><li>Provisional allotment letter </li><li>Identity proof </li><li>Reservation certificate, as applicable</li></ul>Over 14.37 lakh candidates appeared for the NEET exam on September 13, and over 7.71 lakh qualified for the exam this year. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/piramal-group-is-ready-for-acquisitions-in-both-pharma-and-financial-services/articleshow/78865009.cms" data-type="tilCustomLink">EXCLUSIVE: Piramal Group is ready for acquisitions in both pharma and financial services</a> <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms" data-type="tilCustomLink">RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon</a> <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

NEET counselling 2020 registrations begin today: Here’s all you need to know

<ul><li>Hyundai Motor to launch <keyword id="2451348" type="PERSON" weightage="20" keywordseo="New-Hyundai-i20">new Hyundai i20</keyword> on November 5 — pre-bookings begin at a token amount of ₹21,000 </li><li>The sketches reveal that the car comes with a clean yet stylish rear profile and has a Z-shaped tail light design. </li><li>The company seems to have emphasised on a horizontal layout and a stretched-out dashboard with a floating-type infotainment screen.</li></ul>Hyundai Motor India is all set to launch its all-new i20 on November 5. The company has also started accepting bookings for the car at a token amount of ₹21,000. The company recently unveiled the design sketches of the Hyundai i20 facelift on Monday. With striking looks, the car promises a more premium and connected cabin. The automaker said the design of the all-new i20 is inspired by Hyundai Global Design Philosophy of Sensuous Sportiness, futuristic and dynamic expression. And, is based on four fundamental elements— Proportion, Architecture, Styling and Technology. <div type="image" title="Hyundai 2" msid="78869285" hostid="261"></div> “The all-new i20 is designed to evoke an emotional Human - Machine interface representing the persona of Modern Tech Savvy, Ambitious &amp; Sophisticated customers. Set to recreate benchmarks of the premium hatchback segment, the all-new i20 showcases an energetic new avatar and a serene ambience on the inside,” it said in a statement. <div type="image" title="Hyundai 3" msid="78869289" hostid="261"></div> The sketches revealed that the car comes with a clean yet stylish rear profile and has a Z-shaped tail light design. The company seems to have emphasised on a horizontal layout and a stretched-out dashboard with a floating-type infotainment screen. First launched in India in 2008, the Korean car maker’s i20 managed to carve a niche for itself despite the intense competition in the market. In recent times the hatchback segment has seen many new launches in the country, but despite that, <a href="https://auto.hindustantimes.com/auto/cars/hyundai-releases-design-renders-of-upcoming-2020-i20-41603689699038.html">auto experts believe</a> the new i20 will rule the sales once it officially hits the market launched in November. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/piramal-group-is-ready-for-acquisitions-in-both-pharma-and-financial-services/articleshow/78865009.cms" data-type="tilCustomLink">EXCLUSIVE: Piramal Group is ready for acquisitions in both pharma and financial services</a> <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms" data-type="tilCustomLink">RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon</a> <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

You Searched For "Piramal Group pharma" and got 11 results

Carlyle Group to buy 20 pc stake in Piramal Pharma for over Rs 3,700 cr

PTI

Don’t miss Ajay Piramal, a master deal maker with business in 30 countries, at the Global Trends Festival 2020

BI India Bureau

Watch out for Nandini Piramal on breaking barriers, and transforming businesses at the Global Trends Festival 2020

BI India Bureau

Here’s why the Supreme Court has exempted Saridon from the ban on FDCs

Rimin Dutt

Carlyle, Brighton Park invest $200 million in Indian healthtech company Indegene

Sanchita Dash

Former HDFC Bank CEO Aditya Puri joins Carlyle Group — will advise the global investment firm on Asia bets

Sanchita Dash

India needs $3.8 billion funding to meet warehousing demand over three years: Report

Vaamanaa Sethi

No discussion on uniform code for pharmaceutical marketing practices in meeting with PM: IPA

PTI

No discussion on uniform code for pharmaceutical marketing practice in meeting with PM: IPA

PTI

NEET counselling 2020 registrations begin today: Here’s all you need to know

BI India Bureau

Sneak peek: Hyundai Motor to launch new Hyundai i20 on November 5

Navdeep Yadav

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