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A few years ago when Ajay Piramal was delivering the keynote address at a conference organised by Venture Intelligence in Mumbai, he specifically pointed out to Sanjiv Kaul (who was in the audience amid many
PE-VC professionals) saying that Sanjiv could relate very well to what he was talking about.
The chairman of Piramal Group bought Nicholas Laboratories in 1988, when it was ranked 48th in the domestic market and turned it into the third largest company through a series of acquisitions. In 2010, he sold the domestic formulation part of the business to Abbott for $3.8 billion (Rs 17,500 crore), at
