Motilal Oswal Alternates invests ₹600 crore in KARAM Safety’s global expansion

The investment will support KARAM Safety’s acquisition pipeline, product innovation, manufacturing capacity and international distribution as the Indian PPE maker pursues global scale.

— Source publishedWed, 9 Sept, 2026, 19:41 IST·First seen Wed, 9 Sept, 2026, 19:53 IST·Source YourStory

What happened

Motilal Oswal Alternates invested ₹600 crore in Indian PPE maker KARAM Safety. The capital will fund acquisitions, product innovation, manufacturing and global

Key facts

  • ₹600 crore investment
  • ₹8,500 crore India Business Excellence Fund V
  • 3,800+ certified products
  • 5 manufacturing sites
  • 140+ export countries
  • 4,500+ employees
  • ₹30,000 crore assets managed
  • ₹18,000 crore PE assets

Why this matters

KARAM now has capital to pursue acquisitions and partnerships that add technology, regional distribution and manufacturing capabilities in the global PPE market.

What to watch

  • Announcement of the first overseas acquisition, including target geography, category and purchase multiple.
  • New manufacturing plant or capacity-expansion plans, especially outside India.
  • Growth in export revenue, international distributor count and share of sales from non-India markets.
  • Major certifications or wins with multinational industrial, infrastructure, oil and gas, mining, logistics or government customers.
  • Evidence of margin movement as capex, acquisition integration and overseas distribution spending ramps.
  • Further capital raises, debt issuance or changes in ownership that indicate a more aggressive acquisition strategy.
  • Pursue acquisitions of regional PPE distributors, specialized product makers or certification-rich brands in North America, Europe, the Middle East and Southeast Asia.
  • Add manufacturing capacity and automation in high-volume categories such as fall protection, respiratory protection, hand protection and protective footwear.
  • Increase R&D spending on higher-margin, standards-compliant and connected-worker safety products.
  • Build overseas warehousing, local sales teams and channel partnerships to shorten delivery times and improve tender participation.
  • Use the funding round to strengthen export certifications, quality systems and institutional-customer bid capabilities.

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