Sudhir Valia's Sun Pharma stake helps ARC, realty business raise debt

MFs take exposure to realty arm; guarantee by investment entity gives top rating

Sudhir Valia, brother-in-law of Sun Pharmaceutical Industries’ founder Dilip Shanghvi, has got a helping hand in running his own businesses due to the family’s stake in India’s largest drug maker by sales. 

At least two of Valias' entities, Suraksha Realty and Suraksha Asset Reconstruction Company (ARC), have the backing of Lakshdeep Investments and Finance, which holds Valias' stake in Sun Pharma. Taking comfort from the investment entity’s stake in the latter, mutual funds (MFs) have exposure of nearly Rs 13 billion to Suraksha Realty, which operates in the Mumbai and Thane region.

To a Business Standard query, Lakshmi Iyer, chief