Funding
IFC and EAF to buy $52.5M Zenex stake
By Startup Enthusiast ·
- Date
- Company
- Zenex Animal Health
- What it does
- IFC, Emerging Asia Fund
- Kind
- Funding
- Amount
- $52.5 million
- Stage
- Growth equity
- Based in
- Ahmedabad
What they do
IFC and its Emerging Asia Fund proposed to buy up to $52.5 million of Zenex shares from Multiples Private Equity Fund III
What happened
IFC itself would put in about $16 million and the Emerging Asia Fund about $36.5 million
Why it matters
Zenex began after buying Zydus Animal Health and Investment, a Cadila Healthcare subsidiary, and runs a plant in Haridwar
The details
- IFC, part of the World Bank Group, filed to buy a stake in Zenex in December 2021.
- The shares come from existing investor Multiples, so this is a secondary sale (existing holder sells).
- Emerging Asia Fund is backed by IFC, Korea Development Bank and Fiji National Provident Fund.
The deal
- Type
- Secondary stake purchase
Investors
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- Nitendra Patel joins Zenex as HR chief15 December 2025 · People
- Zenex acquires herbal animal care firm Ayurvet14 December 2023 · Acquisition