Maiva Pharma said it has raised Rs 1,000 crore from Morgan Stanley Private Equity Asia and India Life Sciences Fund.

The transaction includes both primary and secondary funding, the Bengaluru-based pure play injectables contract development and manufacturing organisation said.

The two investors have jointly acquired a controlling stake from existing investors and also infused primary capital into the company, an official statement said, without disclosing the stakes picked up.

This is Maiva's first private equity fundraise and the proceeds will be used to set up a new manufacturing facility near Karnataka's Hosur with capabilities in sterile dosage forms, including pre-filled syringes, bags, oncology, and hormonal injectables.

It already has a facility in Hosur approved by the USFDA and other regulators that manufacture vials.

"This fundraise will be used to add more vial, lyophilisation, and suspension capacity and introduce new manufacturing capabilities such as prefilled syringes, cartridges and bags," its Managing Director and Chief Executive Bhaskar Krishna said.