PRIVATE EQUITY | Terry Gangcuangco, Singapore

Morgan Stanley Private Equity Asia invests in Biotor

Morgan Stanley Private Equity Asia, the Asia private equity group of Morgan Stanley, has invested Rs. 182 crores (approximately US$38.5 million) in Biotor Industries Limited, India. This investment in India is the first for Morgan Stanley Private Equity Asia and is part of the Fund’s long-term investment initiative in the country.

Chin Chou, Managing Director and Head of Morgan Stanley Private Equity Asia, commented, "This investment in Biotor represents Morgan Stanley Private Equity Asia's strategy to invest in companies with exceptional management teams and unique competitive advantages. We are also pleased to be making our first investment in India. Morgan Stanley Private Equity Asia raised a US$1.5 billion dedicated fund for Asia last year and we expect to deploy a significant amount of the fund in India over the next two years."

Managing Director for Biotor Industries Limited Rajesh Kapadia said, "India produces over 75% of the global castor crop and thus has a unique competitive advantage, which has benefited us. As the industry leader, we are investing heavily in R&D, biofuels, new derivatives and developing hybrid seeds in order to take advantage of these opportunities. We are very excited about our partnership with Morgan Stanley Private Equity Asia, as this will provide us access to Morgan Stanley's global franchise and relationships, which we believe will prove invaluable as we aim to increase our international presence."

Biotor Industries Limited, with manufacturing plants located in Baroda, is the world's largest producer of castor oil and castor derivatives. Castor oil is used in industries such as lubricants, biofuels, pharmaceuticals and paints. There’s been a rise in demand for castor oil and its derivatives fueled by global efforts to replace oil-based chemicals with green, renewable, natural, biodegradable and sustainable chemicals.

Morgan Stanley Private Equity Asia, one of the leading private equity investors in Asia, has invested in the region for over 15 years. As part of its investment plan in India, Morgan Stanley Private Equity Asia will focus on both buyout and growth transactions.

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