We have sold our stake in Stericon Pharma Private Limited, a Bangalore-based Contract Development Manufacturing Organization (CDMO), manufacturing sterile contact lens cleaning solutions and eyedrops, to the Nirma Group, which acquired 100% of the Company.
T P Devarajan, Senior Managing Director, InvAscent, said, “Stericon’s Founders, Gurdeep Singh and Divakar Chandran, chose to partner with the Fund in 2016. Under their dynamic leadership, the business strengthened its position both in the domestic and global markets. Stericon’s eyedrops and contact lens cleaning solutions, manufactured in its world-class sterile manufacturing facility, are sold in nearly 50 countries today.”
Divakar and Gurdeep said, “We value the guidance provided by the InvAscent team during the investment period. The team helped us in strengthening corporate governance and in identifying products to develop.”