MAM
Paytm Money appoints Rajeev Agarwal as independent director for governance
MUMBAI : Paytm Money has strengthened its leadership by appointing Rajeev Krishnamuralilal Agarwal as an additional non-executive independent director. With decades of regulatory expertise, he will lead risk management, corporate social responsibility, and audit functions, strengthening the platform’s focus on governance and investor trust.
Agarwal brings over 40 years of experience, including a 28-year tenure with the Indian Revenue Services and a significant stint as a whole-time member at SEBI. During his time at SEBI, he played a crucial role in major market reforms, including the 2012 revival package for mutual funds, the 2015 merger of the Forward Markets Commission with SEBI, IPO transparency reforms, and the establishment of the SME exchange to facilitate startup funding.
Currently, Agarwal serves on the board of One97 Communications (Paytm) and holds key positions at Trust Mutual Fund, Acc Ltd., Star Health Insurance, Ugro Capital Ltd., and Mk Ventures Capital Ltd. His expertise is expected to strengthen Paytm Money’s governance, risk management, and strategic direction.
Paytm Money CEO Rakesh Singh highlighted the appointment’s significance, stating, “With Agarwal’s deep governance expertise, we are confident that his guidance will further enhance our efforts to democratise financial markets and drive sustainable growth.”
Agarwal joins an experienced board that includes Narasinganallore Venkatesh Srinivasan & Cyrus Khambata, both of whom bring extensive experience in banking, capital markets, and finance.
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Sun Pharma to acquire Organon in $11.75 billion deal at $14 per share
Acquisition to create $12.4 billion pharma giant with global scale and biosimilars push
MUMBAI: Sun Pharmaceutical Industries Limited has signed a definitive agreement to acquire Organon & Co. in an all-cash deal valued at $11.75 billion, marking one of the largest cross-border pharma acquisitions by an Indian firm.
Under the terms of the agreement, Organon shareholders will receive $14.00 per share in cash, with Sun Pharma set to acquire 100 per cent of the company’s outstanding shares. The transaction, approved by the boards of both companies, is expected to close in early 2027, subject to regulatory approvals and shareholder consent.
The deal significantly expands Sun Pharma’s global footprint and strengthens its position across women’s health, biosimilars, and branded generics. The combined entity is projected to generate revenues of around $12.4 billion, placing it among the top 25 pharmaceutical companies globally.
Organon, which was spun off from Merck in 2021, brings a portfolio of over 70 products spanning women’s health and general medicines, with operations across more than 140 countries. Its established presence in key markets such as the US, Europe, and China complements Sun Pharma’s existing strengths and growth ambitions.
Sun Pharmaceutical Industries Limited executive chairman Dilip Shanghvi said, “This transaction represents a significant opportunity for Sun Pharma to build on its vision of reaching people and touching lives. Organon’s portfolio, capabilities and global reach are highly complementary to our own.”
Sun Pharmaceutical Industries Limited managing director Kirti Ganorkar added, “This transaction is a logical next step in strengthening Sun Pharma’s global business. Together, we will become a partner of choice for acquiring and launching new products.”
From Organon’s side, Organon & Co. executive chair Carrie Cox noted, “This all-cash transaction offers compelling and immediate value to Organon stockholders, while positioning the business for continued growth under Sun Pharma.”
Strategically, the acquisition gives Sun Pharma entry into the global biosimilars space as a top 10 player and strengthens its innovative medicines portfolio, which is expected to contribute around 27 per cent of combined revenues. The deal is also expected to nearly double EBITDA and cash flow, supporting long-term deleveraging and investment capacity.
Sun Pharma plans to fund the acquisition through a mix of internal accruals and committed financing from global banks, while maintaining focus on disciplined integration and operational continuity post-merger.
If completed as planned, the deal signals a clear shift in India’s pharmaceutical ambitions, from scale at home to leadership on the global stage, with Sun Pharma positioning itself as a more diversified and innovation-led healthcare powerhouse.
