Jagsonpal Pharmaceuticals Limited has signed a definitive agreement to acquire an 85% equity stake in Mumbai-based Aequitas Healthcare Private Limited, marking its entry into India’s hospital pharmaceutical segment. The proposed acquisition is aimed at strengthening Jagsonpal’s presence across the healthcare value chain and expanding its reach in the fast-growing institutional pharmaceutical market.
Founded in 2017, Aequitas Healthcare specialises in the sale and distribution of pharmaceutical products to hospitals and has built a strong presence across leading hospital chains in India. The company reported revenues of ₹53 crore in FY2025-26. Under the agreement, Jagsonpal will acquire an 85% stake for ₹20.8 crore, with the transaction to be funded through internal accruals. The existing promoters and directors of Aequitas will retain a 15% shareholding and continue to manage the business.
The acquisition represents a strategic diversification for Jagsonpal, whose portfolio has traditionally focused on prescription-led therapies across gynaecology, orthopaedics and dermatology. By entering the hospital segment, the company aims to broaden its market presence while leveraging Aequitas’ established institutional relationships and distribution network.
Commenting on the acquisition, Manish Gupta, Managing Director, Jagsonpal Pharmaceuticals, said, “The acquisition of Aequitas provides us with a strong platform to establish a meaningful presence in the hospital segment, which is becoming an increasingly important contributor to the Indian pharmaceutical market. Combining our established portfolio of brands with Aequitas’ institutional network will create new opportunities for growth while delivering long-term value for our stakeholders.”
Amrut Medhekar, Chief Operating Officer, Jagsonpal Pharmaceuticals, said the transaction supports the company’s long-term strategy of building a broader specialty healthcare business. “This acquisition strengthens our position beyond the traditional prescription market and enables us to build a more diversified healthcare platform. Our focus will remain on operational excellence, disciplined execution and expanding access to quality healthcare solutions,” he said.
Shailesh Kamat, Director and the largest shareholder of Aequitas Healthcare, said the partnership would support the company’s next phase of growth. “Over the past eight years, we have built a strong institutional business supported by a quality product portfolio and long-standing customer relationships. Partnering with Jagsonpal gives us the opportunity to accelerate growth while creating greater value for customers, employees and the wider healthcare ecosystem,” he said.
The transaction is subject to customary closing conditions and is expected to be completed by July 15, 2026. J Sagar & Associates acted as legal advisors to Jagsonpal Pharmaceuticals, while Noverra Partners advised Aequitas Healthcare on the transaction. Jagsonpal Pharmaceuticals has been present in the Indian pharmaceutical market for more than five decades and has built a portfolio of leading brands supported by a nationwide sales and distribution network.
