45256 - Zenex Animal Health India Private Limited

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Summary of Investment Information

Project Number

45256

Company Name

ZENEX ANIMAL HEALTH INDIA PRIVATE LIMITED

Date SPI Disclosed

Dec 3, 2021

Country

India

Region

South Asia

Projected Board Date

Jan 6, 2022

Environmental Category

B - Limited

Status

Active

Last Updated Date

Mar 8, 2022

Department

Regional Industry - MAS Asia & Pac

Industry

other

Previous Events

Approved : Jan 10, 2022
Signed : Jan 13, 2022
Invested : Jan 19, 2022

Sector

other

Project Description

The proposed IFC investment involves the purchase of equity shares of Zenex Animal Health India Private Limited (“Zenex” or the Company) from Multiples Private Equity Fund III (“Multiples”).

Zenex commenced its business with the acquisition of the animal health business of Zydus Animal Health and Investments Limited, a wholly owned subsidiary of Cadila Healthcare Limited, which focused on the development, marketing and sale of drugs, vaccines and feed supplements for livestock, poultry, companion, and other animals, for markets in India and certain other countries. This has been funded by equity from investors including Multiples and with debt.

Zenex is involved in the manufacturing, marketing, and sale of animal health products for the livestock and poultry segment.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	16.14

Development Impact

Project-level impact: The growth of the Company will increase the production of quality pharmaceuticals for livestock and poultry, resulting in better yields and increased income for farmers. Market-level impact: The Project and Company’s growth will enable changes to existing markets that deliver sustainable development impact by promoting competitiveness through demonstration, replication, and competition.

E&S Category Rationale / Risks and Mitigation

This is a category B project according to IFC’s Policy on Environmental and Social Sustainability (2012) because a limited number of specific E&S impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards and guidelines.

Key E&S risk and issues associated with this project include: (i) the existence and implementation effectiveness of E&S management systems, (ii) assurance of fair, safe and healthy working conditions; (iii) resource efficiency of the operations (energy and water); (iv) life and fire safety management, including emergency preparedness and response plan; (v) management of hazardous chemicals & materials; and (vi) waste management in compliance with local regulatory requirements and World Bank Group (WBG) EHS Guidelines for Pharmaceuticals and Biotechnology Manufacturing.

The company collaborates with research institutes and laboratories for clinical trial/testing and does not have any in-house vivarium.

Contacts

For Inquiries About the Project, Contact

Zenex Animal Health India Private Limited
Vishal Shah
CFO
+91 96016 05074
VishalShah@Zenexah.com
9th Floor of N. G. Tower, Satellite Cross Roads, Ahmedabad 380015
www.Zenexah.com

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Local Access of Project Documentation

Contact Person: Vishal A. Shah

Company Name: Zenex Animal Health India Private Limited

Email: VishalShah@zenexah.com

Address: 9th Floor of N. G. Tower, Satellite Cross Roads, Ahmedabad 380015

Phone Number - +91 96016 05074

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. Its purpose is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

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