India Venture Trust – Fund I, a scheme of IndiaVenture Trust (“IndiaVenture”) subscribed to compulsorily convertible preference shares of VardhmanChemtech Limited for INR 700 million (~USD 14 million).

Vardhman Chemtech Limited is engaged in the business of manufacturing of bulk drugs, intermediates & fine chemicals in the isoxazoles segment of penicillin. Nishith Desai Associates, acted as legal counsel to IndiaVenture Trust for this Transaction.