Occupational safety solutions and personal protective equipment maker KARAM Safety Private Limited announced a ₹600 crore investment from Motilal Oswal Alternates on Wednesday, providing a major boost to the company's expansion plans and international growth ambitions. According to reports from Livemint, ETEntrepreneur, and The Economic Times, the investment is expected to help KARAM expand its scale, strengthen its capabilities and increase its presence in overseas markets as it seeks to establish itself as a diversified global safety solutions company. The investment comes through Motilal Oswal's ₹8,500 crore India Business Excellence Fund V (IBEF V), which was closed in February 2026, with the KARAM transaction representing the fund's fifth investment. As per The Economic Times, this infusion of capital will propel KARAM's initiatives in occupational safety solutions and personal protective equipment on an international scale.
The investment comes through Motilal Oswal's ₹8,500 crore India Business Excellence Fund V (IBEF V), which was closed in February 2026. As reported by Livemint, ETEntrepreneur, and The Economic Times, the KARAM transaction represents the fund's fifth investment, with Mint having first reported in July about the potential transaction. The investment will support KARAM's strategy of pursuing inorganic growth and diversification, with the company planning to focus on acquisitions in complementary product categories, technologies and international markets. Motilal Oswal Alternates manages around ₹30,000 crore in assets across private equity, real estate and private credit funds, with its private equity business managing around ₹18,000 crore across five funds focused on growth capital for mid-market companies. According to The Economic Times, the investment will accelerate KARAM's inorganic growth and diversification strategy, with a focus on strategic acquisitions across complementary product categories, technologies and international markets.
Established in 1998, KARAM Safety is India's largest player in the fall protection and personal protection equipment segment, according to Livemint, ETEntrepreneur, and The Economic Times. The company maintains a portfolio of more than 3,800 products covering safety harnesses, lanyards, helmets, safety footwear, respiratory protection, hearing protection and hand protection products. Its manufacturing operations are vertically integrated and extend across multiple locations in India and overseas, including facilities in Sitarganj, Lucknow and Coimbatore in India, along with Ballito in South Africa and facilities in Brazil. The company sells products under four global brands across the US, Europe, South America, Africa and Asia Pacific, currently exporting its safety solutions to more than 140 countries and employing a workforce of over 4,500 employees. As per The Economic Times, the company markets and sells products under 4 global brands across US, Europe, South America, Africa and Asia Pacific.
According to Livemint, ETEntrepreneur, and The Economic Times, the fresh capital will enable the company to accelerate strategic acquisitions while increasing investments in product innovation and manufacturing capabilities. Hemant Sapra, Co-Founder and President (Global Sales and Marketing), stated that "this investment provides us with the strategic and financial flexibility to pursue meaningful acquisitions, enter new categories and markets, and accelerate our ambition of building KARAM into a global leader in the safety industry." Rajesh Nigam, Co-Founder and President for Technical Operations, expressed confidence in the partnership, stating "this association will further strengthen our global presence and escalate our position as market leaders in India." Motilal Oswal Alternates is managing an AUM of ₹30,000 crore across private equity, real estate and private credit funds, with its private equity business established in 2006 and managing ₹18,000 crore across five funds focused on growth capital for mid-market companies across consumer, financial services, life sciences and niche manufacturing sectors.
KARAM reported strong financial performance in FY25, with revenue of ₹1,062.2 crore and profit of ₹87.1 crore, according to rating agency Crisil. This represents significant growth from FY24's revenue of ₹813.5 crore and profit of ₹106.9 crore. EY acted as the sell-side investment banking advisor to KARAM Safety Private Limited for this transaction. The investment comes at a time when rising workplace safety standards, stronger regulatory enforcement and sustained industrial capital expenditure are creating structural tailwinds for the sector, as noted by Prakash Bagla, Managing Director for the Manufacturing Sector at Motilal Oswal Alternates. The capital will support KARAM's global expansion strategy, including pursuing acquisitions in complementary product categories and technologies across international markets, with the investment enabling investments in product innovation, manufacturing capacity and global distribution network development.
