Morgan invests $37.5 mn in first India PE deal

Morgan Stanley’s private equity unit said on Tuesday it had invested 1.82 billion rupees ($37.5 million) in unlisted Indian castor oil maker Biotor Industries, to mark its first private equity investment in India.

Morgan Stanley, which raised $1.5 billion for an Asia dedicated fund last year, said it would get a “significant minority” stake for its investment.

“We are pleased to be making our first investment in India,” Chin Chou, managing director and head of Morgan Stanley Private Equity Asia, said in a statement.