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July 26, 2016

Spark Capital advises CORONA on its USD 17.5 Mn Funding from Creador

Spark Capital is pleased to announce the successful closure of a USD 17.5 Mn investment in CORONA Remedies Pvt. Ltd. (“CORONA”), one of the fastest growing domestic pharmaceutical companies in India, by Creador, a private equity firm focused on long-term investments in growth-orientated businesses in Indonesia, India and Malaysia. Spark Capital acted as exclusive financial advisor to the transaction and has reinforced its position as a leader in syndicating equity for mid-market companies in the healthcare space. With the completion of this transaction, Spark has advised on 18 transactions aggregating USD 386 Mn across various sub-segments of the healthcare space.

As exclusive financial advisor to the transaction, Spark Capital :

  • Engaged with Corona significantly ahead of the transaction timeline to ideate, structure and time the transaction to optimize outcomes for the promoters and the Company
  • Identified, marketed and engaged with the most suitable set of investors
  • Drove negotiations between Corona and Creador across the term sheet and definitive documents
  • Assisted in successful closure of the transaction

About CORONA :

CORONA is an Indian pharmaceutical company engaged in manufacturing and marketing of branded prescription generics catering to various therapeutic segments across acute and chronic diseases. Established in 2004 and headquartered in Ahmedabad, the Company is promoted by a family of professionals with deep domain expertise. CORONA currently ranks amongst the top 60 pharmaceutical companies in India out of 12000+ Pharma companies in IPM.

Further information on CORONA is available at http://www.coronaremedies.com/

About Creador:

Creador, a private equity fund domiciled in Mauritius, invests equity growth capital of USD 15 – 50 Mn across a variety of sectors for minority equity positions.  The fund, sponsored by Mr. Brahmal Vasudevan - one of the three General Partners at Chrys Capital for 11 years, currently targets opportunities in India, Indonesia and Malaysia.

Further information on Creador is available at http://creador.com/

About Spark Capital:

Spark Capital is among India’s leading investment banks, providing a full suite of services encompassing Corporate Finance Advisory, Institutional Equities, Wealth Management and Structured Finance & Debt Syndication. Spark’s Corporate Finance Advisory division has successfully consummated a total transaction value of close to USD 1.8 Bn across 30 transactions in the last 36 months; Spark Capital’s Institutional Equities division covers over 200 stocks under research and enjoys empanelment with over 200 institutional clients across FIIs, DIIs and Family offices. Spark is headquartered in Chennai and has offices in Bangalore and Mumbai.

Further information is available at  www.sparkcapital.in

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