Singapore-based investment firm Khattar Holdings Pvt Ltd has picked up 14 per cent stake in Gurgaon-based Navran Advanced Nanoproducts Development International Pvt Ltd (NAND ipl) for an undisclosed amount. Credence Advisors, a Delhi-based advisory firm, was the sole advisor in this transaction.
“Our due diligence on NAND ipl’s science and technology confirmed its potential, not only for the currently commercialised products but also for several high margin and novel products including nano pharmaceuticals,” said Sat Pal Khattar, chairman of Khattar Holdings.
Established in 2008, NAND ipl, with an R&D and manufacturing facility in Himachal Pradesh, has developed advanced technology for nano materials development and use those nano materials to develop structured particles at commercial scales. The company has set up a new plant at Dhamandri in Una district, Himachal Pradesh, for manufacturing chemical toner, a popular nanotechnology product.
“We have witnessed a huge demand of our products across the country. This is our Series A fund and we will be looking for more funds as per our requirements in the near future. We also plan to float an IPO in another 3-4 years,” said Kumar Binit, co-founder and CFO, NAND ipl.
“We are especially pleased with the endorsement of Dr Prakash Patel, a PhD in Chemical Engineering from Princeton University with several years’ experience in development of new technology,” said Dr Abhinava Srivastava, founder and MD of NAND ipl. “Dr Patel has several patents and publications to his credit and will also invest in NAND ipl,” he added.