UditConvergent Finance LLP, the private equity firm launched by the former Fairfax India executive Harsha Raghavan, has now revealed it is infusing INR 180 crore in the Camlin Fine Sciences Limited.
Convergent Finance, via its entity Infinity Investment Management, will pick around 22.65% stake in the Mumbai based company.
“Given our M&A oriented strategy, this investment and the partnership that it brings with Convergent will enable us to leverage Convergent’s deep global expertise and relationships while benefiting from their strategic guidance,” Ashish further added.
Harsha Raghavan, a Managing Partner at Convergent, stated,
“Camlin is well-positioned to benefit from the current supply-chain disruption and the overall shift towards moving manufacturing away from China to other cost-efficient locations, including India.”