Recent deals like Advent-Ra Chem Pharma, Carlyle – Sequent Scientific and Carlyle –Piramal Enterprises are examples of rising interest from private equity funds in the domestic API (active pharmaceutical ingredients) segment . API's are the raw materials that give drugs the intended therapeutic effect. COVID-19 has rocked the global API hub China with several units shutting down. Promoters of API companies are eyeing opportunistic exits at healthy valuations and thus private equity capital is chasing the sector which now has higher growth projections.