Mumbai-based pharma company Piramal Healthcare, which has recently sold its domestic formulations business to Abbott for $3.7 billion and is now diversifying into financial services by acquiring the real estate equity fund management business, housed under Indiareit Fund, has appointed Bain Capital’s Amit Chandra as an additional director on its board.
Chandra is on the board of Bain Capital Advisors India, which is a part of the Bain Capital Group, a global private equity firm. Chandra joined Bain Capital in 2008 and also set up its Mumbai office.
He joined Bain after a short tenure as partner of NSR Advisors, which advised NSR Private Equity, a $1.3 billion fund focused on the sub-continent.
Prior to this, he was the managing director and board member of DSP Merrill Lynch where he spent most of his professional career, directly supervising its global market and investment banking business. He had also worked with engineering & construction firm, Larsen & Toubro.
Chandra is already a director of Indian firms such as Tata Investment Corporation, Himadri Chemicals and Lilliput Kidswear. He now joins a group of illustrious names such as N Vaghul, Deepak Satwalekar and Keki Dadiseth who are on the board of Piramal Healthcare.
As Piramal Healthcare diversifies its business, Chandra’s inclusion will help the firm leverage his professional expertise in the domain of financial services.
See our earlier report