Paras Pharmaceutical is the latest instance where one of the Patel brothers - Girish, Darshan, and Devendra - is reportedly selling his stake to Actis. Apparently, there is trouble brewing among the brothers. Similarly, it was differences within the family, which triggered the 51% equity sale of Nilgiri's Dairy to the same PE investor, according to sources close to the Bangalore-based company.
In June, a clutch of PE players, Clearwater Capital, Olympus, and Voyager, bought out one of the brothers, Anil Kumar Sanghvi, from Sanghvi Motors to pick up a 23% stake in the company. Earlier, in a similar deal, Reliance Capital bought out one of two brothers, Debashish Chakraborty's 44% equity in the courier and express firm, DTDC. Apparently, the brothers (Shubhashish and Debashish) had differences over issues, sources told ET.
Arun Natarajan is the Founder of Venture Intelligence, which tracks private equity and venture capital in India and Indian-founded companies worldwide. View sample issues of Venture Intelligence India newsletters and reports.