Mankind Pharma acquires majority stake in Upakarma Ayurveda

Pharmaceuticals company Mankind Pharma on Monday announced that one of its subsidiaries has acquired a majority stake in Upakarma Ayurveda Private Limited. Upakarma Ayurveda is a brand that is engaged in developing, manufacturing and selling ayurvedic and herbal products.

The current lifestyle has become strenuous where people find it difficult to focus on their health, Rajeev Juneja, vice chairman and managing director, Mankind Pharma Limited, said. "To fulfill their requirements, consumers are considering Ayurvedic remedies for long-term sustenance and boosting immunity over time. As Mankind Pharma works towards improving the healthcare of people, we have associated with Upakarma Ayurveda in order to cater to the emerging needs of consumers,” he added.

With the acquisition, Upakarma Ayurveda aims to develop a wider range of products and offerings and penetrate the market leveraging the strong distribution network of Mankind Pharma.  

Vishal Kaushik, founder and managing director, Upakarma Ayurveda, said, “There has been a rising consciousness around Ayurveda in recent years. We, at Upakarma Ayurveda, have been building a connection with our consumers. With this partnership, the team is elated and is looking forward to widening our reach with Mankind Pharma backing us."

Upakarma Ayurveda offers products ranging from improving health and wellness to boosting immunity.

In September, Mankind Pharma filed draft papers for an initial public offering with market regulator Securities and Exchange Board of India (SEBI). The company's initial public offering comprises an offer for the sale of 4 crore equity shares by the promoting and existing investors.

Also Read: Dabur India aims to become national player in spices business: Mohit Burman