The Hindu Business Line : Matrix promoter may turn angel investor

Richer by Rs 570 crore, Matrix Laboratories Ltd's chief promoter, the 45-year-old Mr N. Prasad, is actively weighing options on turning into an angel investor.

Having divested 12 per cent of his stake in Matrix to US pharma generics major Mylan Laboratories Inc, for roughly Rs 570 crore, Mr Prasad has already given indications of his route to angel investor.

His investments at present are in the entertainment, healthcare and infrastructure segments. Mr Prasad is currently evaluating various industrial sectors for making fresh investments through the recent proceeds.

Maa TV, Care Hospital, Asian Institute of Gastro-enterology and Indu Projects are a few entities in which he had acquired equity stake for a cumulative investment of around Rs 100 crore.

However, Mr Prasad has not yet crystallised his plans whether to continue investments in various key industrial segments through private equity fund route or to invest towards becoming a full-fledged entrepreneur once again developing companies right from scratch.

"The first innings is over. I am highly satisfied with the results and my contribution to the Indian industry and economy in terms of wealth creation. I could successfully create a wealth of over $1 billion (Rs 4,600 crore). My second innings as an entrepreneur will begin soon," Mr Prasad told Business Line from the US.

According to him, he is free to invest anywhere other than pharma industry in view of his commitment to Matrix Labs.

"The idea behind retaining an equity stake of five per cent in Matrix and investing $25 million in Mylan and joining their management team heading the global business strategies is to ensure confidence levels of the Matrix shareholders, employees and also to the new partner - Mylan."

Mr Prasad says he would be very active in the pharma space for some more time. In fact, he would now be entering the higher orbit of pharma space with his new role as head of Mylan's global strategies in the office of the CEO.

Responding to a query on his investment plans, he said, "I have several industrial segments in mind. However, nothing has been firmed up so far.

Whether to continue investing in various entities as an angel investor with the recent proceeds or think of becoming entrepreneur once again is not yet fully crystallised.

It may take some more time to arrive at a decision."