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ZCL Chemicals has raised Rs 170 crore through sell of an undisclosed stake to a fund managed by Morgan Stanley Private Equity Asia (MSPEA).
As per a statement issued, the equity investment in ZCL that was formerly know as Zandu Chemicals will be used for the company’s growth.
Ajay Parikh, ZCL chairman and Managing director has said that “We had put in place a strategy for 2020 and bringing in a global partner like MSPEA is a part of that strategy.”
