RPG Life Sciences & InvAscent
September 2026
Announced Date: September 2026
Value: Undisclosed
o3 Capital acted as the Exclusive Financial Advisor to RPG Life Sciences and InvAscent on their acquisition of Raghava Life Sciences
We are pleased to announce that our clients RPG Life Sciences and InvAscent have acquired the API and intermediates business of Raghava Life Sciences on a slump-sale basis, through RPG Life Sciences’ subsidiary, RPG Active Pharma.
Following the recent acquisition of Actis Generics, this transaction is the next step in RPG Active Pharma's consolidation play based on a well-planned buy-and-build strategy to bolster organic growth and create an integrated, scaled API-focused organization.
The transaction also reinforces o3 Capital’s credentials in the Indian Life Sciences and Healthcare sector, where the firm has advised on 14 transactions over the past two years.
Speaking on the transaction, Shiraz Bugwadia, Managing Partner at o3 Capital, said: “We are delighted to have advised RPG Life Sciences and InvAscent on the acquisition of Raghava's API and intermediates business — the second transaction under RPG Active Pharma, following Actis Generics. This deal reflects the strong momentum in India's API sector and the growing conviction in building scaled, integrated businesses through focused consolidation.”
Ashok Nair, Managing Director at RPG Life Sciences, said: “This acquisition marks an important addition to the RPG Active Pharma consolidated organization. It brings together a high-quality manufacturing asset, a broad portfolio of commercialized APIs, established regulatory credentials and strong customer relationships. Following Actis, it further strengthens the scale and capabilities of RPG Active Pharma and advances our strategy of building an integrated and competitive scaled API business.”
RPG Life Sciences, part of RPG Group, is an integrated, research-based pharmaceutical company operating in domestic and international markets across branded formulations, global generics and synthetic APIs.
RPG Active Pharma is a subsidiary of RPG Life Sciences established to build a focused API business, with an emphasis on product development, manufacturing excellence, portfolio expansion and serving domestic and export markets.
InvAscent, established in 2005, is one of India's leading healthcare-focused private equity firms with ~USD 850 million in capital raised to date and investments in 39 companies across pharmaceuticals, healthcare delivery, medical devices, animal health, nutraceuticals, and health tech.
Raghava Life Sciences operates a WHO-GMP and EU-GMP approved API manufacturing facility near Hyderabad. The business has built a portfolio of high-growth APIs, comprising 22 commercialized products and 7 development-stage assets across diabetes, cardiovascular, CNS and other therapeutic segments.
About o3 Capital
o3 Capital is a leading mid-market investment bank focused on delivering differentiated outcomes across private equity, M&A, structured finance, and strategic advisory. With deep sector expertise and long-standing client relationships, o3 Capital partners with entrepreneurs and institutions to drive transformational growth and value creation.
We are pleased to announce that our clients RPG Life Sciences and InvAscent have acquired the API and intermediates business of Raghava Life Sciences on a slump-sale basis, through RPG Life Sciences’ subsidiary, RPG Active Pharma.
Following the recent acquisition of Actis Generics, this transaction is the next step in RPG Active Pharma's consolidation play based on a well-planned buy-and-build strategy to bolster organic growth and create an integrated, scaled API-focused organization.
The transaction also reinforces o3 Capital’s credentials in the Indian Life Sciences and Healthcare sector, where the firm has advised on 14 transactions over the past two years.
Speaking on the transaction, Shiraz Bugwadia, Managing Partner at o3 Capital, said: “We are delighted to have advised RPG Life Sciences and InvAscent on the acquisition of Raghava's API and intermediates business — the second transaction under RPG Active Pharma, following Actis Generics. This deal reflects the strong momentum in India's API sector and the growing conviction in building scaled, integrated businesses through focused consolidation.”
Ashok Nair, Managing Director at RPG Life Sciences, said: “This acquisition marks an important addition to the RPG Active Pharma consolidated organization. It brings together a high-quality manufacturing asset, a broad portfolio of commercialized APIs, established regulatory credentials and strong customer relationships. Following Actis, it further strengthens the scale and capabilities of RPG Active Pharma and advances our strategy of building an integrated and competitive scaled API business.”
RPG Life Sciences, part of RPG Group, is an integrated, research-based pharmaceutical company operating in domestic and international markets across branded formulations, global generics and synthetic APIs.
RPG Active Pharma is a subsidiary of RPG Life Sciences established to build a focused API business, with an emphasis on product development, manufacturing excellence, portfolio expansion and serving domestic and export markets.
InvAscent, established in 2005, is one of India's leading healthcare-focused private equity firms with ~USD 850 million in capital raised to date and investments in 39 companies across pharmaceuticals, healthcare delivery, medical devices, animal health, nutraceuticals, and health tech.
Raghava Life Sciences operates a WHO-GMP and EU-GMP approved API manufacturing facility near Hyderabad. The business has built a portfolio of high-growth APIs, comprising 22 commercialized products and 7 development-stage assets across diabetes, cardiovascular, CNS and other therapeutic segments.
About o3 Capital
o3 Capital is a leading mid-market investment bank focused on delivering differentiated outcomes across private equity, M&A, structured finance, and strategic advisory. With deep sector expertise and long-standing client relationships, o3 Capital partners with entrepreneurs and institutions to drive transformational growth and value creation.