Pravesha Industries Private Limited, a company that makes packaging for pharmaceutical products, has sold a majority of its shares to PAG, a private equity investment firm focused on the Asia Pacific region. The deal was worth $200 million.
Tempus Law Associates and AZB & Partners acted for parties to this transaction.
Tempus Law Associates represented Pravesha and its existing promoters on this stake sale.
The transaction team consisted of Sundari R. Pisupati (Co-Founder and Co-Managing Partner), Raghav Agarwal (Associate Partner), Sindhu Akella (Senior Associate), Bhaskar Rekapalli (Senior Associate), Nisha Agarwal (Associate) and Rasika Jhawar (Company Secretary).
AZB & Partners represented PAG on this transaction.
The transaction team consisted of Kashish Bhatia (Partner), Amitabh Robin Singh (Senior Associate), Aditi Shukla (Senior Associate) and Abhimanyu Singh Rathore (Associate).
Pravesha produces more than 15,000 metric tons of plastic bottles, closures and drums and more than two billion units of cartons, labels and leaflets annually for some of the world’s largest pharmaceutical companies. About 95% of Pravesha’s packaging products are used in developed markets including the U.S. and Europe.
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