Latest news with #AmanMehta
Mint
30-06-2025
- Business
- Mint
Torrent Pharma not planning to make leadership changes after buying JB Pharma
Ahmedabad-based drugmaker Torrent Pharmaceuticals will not to make leadership changes at JB Chemicals and Pharmaceuticals, its management told investors in a call on Monday, a day after the announcement of its nearly ₹ 19,500-crore deal to acquire a controlling stake. Torrent said on Sunday that it would acquire a controlling stake in JB Pharma from global investment firm KKR, at an equity value of ₹ 25,689 crore. The deal will be followed by a merger of the two entities. The deal is expected to be completed in 15-18 months, and is likely to be funded through debt. 'At this stage, all we can share is that there is no intention to change anything in business as usual,' Aman Mehta, whole time director and managing director-designate at Torrent Pharmaceuticals, told investors when asked about leadership plans for JB Pharma. 'In terms of how we plan to integrate, we do recognize that the scale of this acquisition is far larger than our past ones. So it's not really comparable in that sense,' said Mehta. '...directionally, even in this case, it should be fairly similar to what we've seen in the past three deals,' he added. In the last five years, under the leadership of chief execuitve officer Nikhil Chopra, JB Pharma has emerged as one of the fastest growing pharma companies in India. Chopra, who was previously executive vice president—India business at Cipla, was brought on after investment firm KKR acquired a 54% stake in JB Pharma from the promoters, the Mody family, in July 2020 for about ₹ 3,100 crore, or ₹ 745 per share. Torrent's management declined to share specifics on future plans for the deal. The transaction is expected to be EPS (earnings per share) accretive by FY28, which would be the first year of the merged entity, said Sudhir Menon, chief financial officer at Torrent Pharma. Torrent is acquiring a 46.39% equity stake (on a fully diluted basis) in JB Pharma through a share purchase agreement for ₹ 11,917 crore at ₹ 1,600 per share, followed by a mandatory open offer to acquire up to 26% of the company's shares from public shareholders, at an open offer price of ₹ 1,639.18 per share, amounting to about ₹ 6,843 crore. Torrent also intends to acquire up to 2.80% of equity shares from certain employees of JB Pharma at the same share price as KKR, that is ₹ 1,600 per share, totalling about ₹ 719 crore. The acquisition will be followed by a merger between Torrent and JB Pharma through a scheme of arrangement, subject to necessary regulatory approvals. The acquisition will provide Torrent access to a fast-growing India franchise, with JB's leading brands in the chronic segment, and entry into untapped therapeutic areas like ophthalmology, and IVF. Following the deal, Torrent moves up the rank in the Indian drug market from the 7th position to 5th position. 'If the double digit growth sustains in merged entity, we think Torrent can become #4 ranked company in India in 3-4 years,' said brokerage Nuvama in a note. The deal also facilitates Torrent's entry into the contract development and manufacturing organization segment. It will also aid consolidation in key international markets. 'Although JB Chemicals has been operating efficiently under KKR's ownership, the merger is expected to unlock further value through the reduction of corporate costs and potential synergies in the field force, particularly as both companies have a strong presence in cardiology and gastroenterology therapies,' analysts at JM Financial said in a note. Torrent is likely to finance the deal through debt. 'At the outset, the leverage required for this transaction is looking quite comfortable from a servicing point of view. However, depending on the MTO (mandatory tender offer) outcome, which is a variability which is there, we will see if equity mix is required at all,' Menon told investors.
Time of India
17-06-2025
- Business
- Time of India
Torrent Pharma keen to break into big league
Ahmedabad-based Torrent Pharma is revving up for acquisitions in India as part of its plans to break into the top three drugmakers over a span of three to five years. Currently at seventh position by market share, Torrent has dramatically scaled up its India operations over the last five years with bolt-on deals for leading brands and small companies. For FY25, Torrent had sales of Rs 11,516 crore, of which India contributed Rs 6,393 crore. In the first media interaction following the announcement of his new role starting August 1, Aman Mehta , managing director-designate at Torrent Pharma, told ET that the commitment to the Indian market remains as strong as ever. "To be in the top three looks to be an ambitious but realistic goal," he said. "Even with some of the structural changes that are happening or have happened in the recent years, we believe that the inherent demand of the Indian pharma market is not going to change." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo His confidence stems from a consistent growth in the Indian market compared to those like US or Europe that have been under pressure due to regulatory challenges and a headlong drop in prices of generic drugs. On a 12-month moving annual total (MAT) basis, the Indian pharma market has grown at 7.2% to Rs 2.29 lakh crore ($26.7 billion) in May. That growth is led by a mix of drugs for cardiac issues, gastrointestinal products, anti-infectives, anti-diabetes, vitamins and respiratory issues. But for Torrent, the task to take the third rank will be a tough one. Torrent must have a faster growth rate to topple giants such as Cipla , Alkem and Intas Pharma. Sun Pharma and Abbott lead the stack as the top two in the Indian market. Live Events Torrent's deals-led growth strategy is already in play. In 2022, the company shelled out Rs 2,000 crore for private equity-backed Curatio Healthcare, makers of popular cosmetic dermatology brands. More recently in December, it lapped up a set of new generation medicines to treat diabetes from German drug maker Boehringer Ingelheim. A year later in 2023, Torrent came close to buying Cipla for an audacious $7 billion deal. Although it could not be officially confirmed, the talks failed on valuation mismatch. Torrent was also named as a frontrunner to acquire a majority stake in JB Pharma from private equity firm KKR, but that deal was also called off, at least temporarily. Mehta, who has steered most deal discussions for Torrent, says the company is at a stronger position to invest further and grow business. Sheetal Sapale, VP, PharmaTrac, a data intelligence firm that tracks medicine sales, said Torrent Pharma's revenue has grown 1.6x in the last five years, with cardiac treatments making up over a fourth of its domestic sales. She added that strategic acquisitions have helped Torrent consolidate its position in pain drugs, gastrointestinal medicines and skin care range. In the last four years, Torrent has expanded its field force. From 3,600, that may now double to 7,000 medical representatives this year, which Mehta called "methodical expansion for better territorial reach".
India.com
01-06-2025
- Entertainment
- India.com
Heeramandi Actress Sharmin Segal, Husband Aman Mehta Blessed With Baby Boy: Report
New Delhi: Heeramandi fame actress and niece of Sanjay Leela Bhansali, Sharmin Segal, has welcomed a baby boy with her husband, Aman Mehta. As per journalist Vickey Lalwani's Instagram post, Sharmin Segal and Aman Mehta welcomed a baby boy on Wednesday. Sharmin lives with her husband Aman Mehta, who is the Executive Director at Torrent Pharmaceuticals in Ahmedabad. They tied the knot in an intimate ceremony in Italy in November 2023. The report states that Sanjay, along with her parents Bela and Deepak, are thrilled. 'That Sharmin Segal, Sanjay Leela Bhansali's niece and Deepak-Bela Segal's daughter, was expecting her first baby was brought to you here FIRST. The news now is that Sharmin has delivered a baby boy. Sharmin became a mother on May 28. Sharmin made her Bollywood splash, playing Alamzeb, in Sanjay Leela Bhansali's acclaimed web show Heeramandi, which hit online on May 1 last year and airs on Netflix. Sharmin married Aman Mehta, the Executive Director of Torrent Pharmaceuticals, in 2023. She is settled in Ahmedabad after marriage but has been in Mumbai for the past few months. Goes without saying that Sanjay, Bela, and Deepak are thrilled. Ditto for Sharmin and Aman.' — the post read. The actress is known for her work in Malal and Heeramandi as Alamzeb. She received mixed responses for her performance in the Netflix web series. Since then, she has taken a step back from the industry.
Mint
01-06-2025
- Business
- Mint
Indian pharma's young blood takes over as drug dynasties crack the succession code
Some of India's largest pharmaceutical firms, including Sun Pharmaceutical Industries Ltd and Torrent Pharmaceuticals Ltd, are priming the next generation of their promoter families to take over the reins. On 20 May, Torrent Pharma announced the appointment of Aman Mehta (33), son of chairman Samir Mehta and a third-generation member of the Torrent Group's founder family, as managing director effective 1 August. The company said in a press statement that the appointment was part of 'our long-term strategic vision and succession planning". The same week, Sun Pharma announced the appointment of Vidhi Shanghvi, daughter of founder and managing director Dilip Shanghvi, as a whole time director. A few months ago, Sun Pharma elevated Aalok Shanghvi (40), Dilip Shanghvi's son, as chief operating officer. Other pharma companies like Lupin Ltd too have seen the next generation of their promoter families take charge in recent years. With the Indian pharmaceutical industry growing at a significant rate, the top companies in the sector are being closely watched for the evolution they are undertaking. Experts believe such successions must be planned with foresight, factoring in ideal transition times, grooming, and the role of other veteran executives in shaping up the incoming leaders. 'If one has to think about a template, I think a good template is one where there is a fair bit of overlap between the senior generation and the next generation. And the next generation gets a good chance to actually experience different parts of the business," said Amit Misra, managing director with consultancy firm Alvarez and Marsal's healthcare and life sciences practice in Mumbai. Aman Mehta, the newly appointed managing director of Torrent Pharma, is a whole-time director at Torrent Pharma. He was appointed as a director in 2022 and has been primarily involved with Torrent Pharma's India business, the company's largest revenue contributor. According to Torrent's press statement, Mehta played an instrumental role in the integration of the Unichem Laboratories Ltd acquisition and the strategic identification and integration of Curatio Healthcare Pvt. Ltd. Torrent's acquisition of Unichem's branded India and Nepal business in 2017 significantly boosted its presence in key segments. Torrent acquired 100% of Curatio in 2022. Similarly, Aalok Shanghvi, who was brought into the Sun Pharma fold in 2006, has handled various roles in marketing, research and development, project management, purchase, and communications, according to information on the company's website. Over the past two decades, Shanghvi has headed Sun's business in Bangladesh and later emerging markets, spanning 80 countries. Subsequently, he also took charge of Sun's global generic R&D, global generic business development, and API (active pharmaceutical ingredients) functions. Vidhi Shanghvi began her career at Sun Pharma in 2012 as a brand manager within the India business, and took over as business head of Sun Pharma's consumer healthcare business in 2015, following its merger with Ranbaxy Laboratories Ltd. 'Promoters need to not parachute their progeny into the boards, but groom them from the shop floor, be it in an accelerated manner, and then expose them to internal and external stakeholders," said Shriram Subramanian, founder and managing director of InGovern Research Services. The role of incumbent senior executives and how they evolve must also be planned, he said. 'At least the senior level executives' succession planning should be a process and discussed at the board level," Subramanian said, adding that uncertainties around leadership must be factored in and planned for. An ideal transition would involve a transition of erstwhile leadership as well, said Misra of Alvarez and Marsal. 'In the sense that when you are bringing in the next generation side by side, you also start to help them choose their team, while some of the stalwarts remain in advisory positions," he explained. Also read | Mint Explainer: What sparks family feuds in Indian corporations? Corporate successions: A tricky path India's corporate landscape is riddled with high-profile family disputes even in instances where the promoter families had drawn up legal frameworks to ensure a smooth transition. Factions of the Kirloskar family are feuding over a 2009 deed of family settlement that outlined the distribution of ownership, management, and control of various Kirloskar entities—including Kirloskar Brothers Ltd and Kirloskar Oil Engines Ltd—among different branches of the family. Babasaheb Kalyani, the billionaire promoter of the Kalyani group, and his sister Sugandha Hiremath have been in a dispute for longer than a decade over the family's group companies such as Bharat Forge Ltd and Kalyani Steels Ltd, as well as private assets like land, real estate, and jewellery. The Lodha brothers—real estate developers Abhishek and Abhinandan—only last month resolved their dispute over the 'Lodha' brand identity after a longdrawn mediation and with the guidance of their parents. Messy legal disputes aside, corporate successions tend to be mired in other seemingly mundane challenges that need to be factored in. For instance, corporate successors following in the footsteps of senior family members who built successful businesses would want to develop their own styles and strategies while continuing the company's growth and legacy. 'The challenge for the next generation is to retain the differentiating factor or the competitive edge as far as the company is concerned," Misra said. 'If a successor tries to just cut copy-paste, it won't work because that did not work even in the case of the previous generation," he added. Also read | Why do business families delay the inevitable: Succession planning? For companies facing a vacuum when it comes to finding successors from within the family, the focus needs to be on bringing in professional talent who align with the firm's culture and vision, while also fostering loyalty and longevity in this leadership. Take the case of Cipla. After heir apparent Kamil Hamied, nephew of Cipla doyen Dr. Y.K. Hamied, stepped down as chief strategy officer in 2015 to pursue personal interests, the company brought in Umang Vohra, former head of Dr. Reddy's Laboratories Ltd's North America business, as its global chief financial officer. In 2016, Cipla appointed him global CEO and managing director. What is important for the continuity of a successful business is empowering the successors—be it family members or a professional team—and ensuring they understand the company's needs, experts said. 'The point remains that even in cases where the vacuum is not there, empowering some of these people so that their leadership styles start getting noticed and they get the opportunity to be known, is extremely important," Misra emphasised.
Time of India
20-05-2025
- Business
- Time of India
Samir Mehta's son Aman named MD of Torrent Pharma
MUMBAI: Torrent Pharma has named Aman Mehta , the older son of chairman Samir Mehta , as MD, solidifying the succession plan at the flagship of the $5.3 billion Torrent Group . His new role will begin on August 1. This appears to be the company's first MD position. Aman, 33, who represents the third generation of the family, joined the company's board as a director in 2022. His younger brother Shaan Mehta, 27, currently leads strategy at the company. The Torrent Group, founded by Aman and Shaan's grandfather in 1959, now has diverse interests spanning from pharmaceuticals to power. Their cousin, Jinal Mehta, currently serves as the vice chairman and MD of Torrent Power. ' As part of our long-term strategic vision and succession planning, the board has approved the appointment of Aman Mehta as MD, effective August 1, 2025,' said Torrent Pharma, adding that 'This appointment is aligned with our commitment to building a strong, future-ready leadership team capable of delivering sustainable value to all stakeholders.' An economics graduate from Boston University with an MBA from Columbia University, Aman joined the Torrent Group in October 2013. His career spans leadership positions across the group's pharma and power businesses. A notable accomplishment includes overseeing the integration of Unichem's domestic operations into Torrent Pharma. The company acquired Unichem's 120 brands and manufacturing facility for Rs 3,600 crore in December 2017. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
