Motilal Oswal PE invests Rs 40 cr in pharma co Arinna

Leading brokerage Motilal Oswal's private equity arm today said it has invested Rs 40 crore in pharma player Arinna Lifesciences which will be used for expanding the market and product line.
The India Business Excellence Fund II and India Business Excellence Fund II-A, managed by Motilal Oswal Private Equity, have committed to invest Rs 40 crore in the company, an official statement said, without specifying the stake to be diluted.
"Investments by funds managed/advised will help us expand operations and introduce more products," Arinna's founder Vivek Seth said.
Motilal Oswal PE chairman Raamdeo Agrawal said Arinna, established in 2013, is a rapidly growing company in its chosen space of central nervous system (CNS), which drew his fund to commit the money.

Arinna is focused on the CNS therapeutic segment and is already one of the top 25 in the category, the statement said.