Investment to fund KARAM’s acquisitions and global expansion; marks the fifth investment from Motilal Oswal Alternates’ ₹8,500 crore India Business Excellence Fund V

Mumbai, India: KARAM Safety Private Limited, a leading occupational safety solutions and Personal Protective Equipment company, today announced a ₹600 crore investment from Motilal Oswal Alternates, marking a significant milestone in its growth journey and global ambitions. Motilal Oswal Alternates made the investment through its India Business Excellence Fund V (IBEF V). IBEF V was closed at ₹8,500 crore in February 2026 and the investment in KARAM becomes the fifth investment from the fund.

Founded in 1998, KARAM is India’s largest company in the Fall Protection and Personal Protection equipment space, with a product portfolio of more than 3,800 products spanning across categories such as harnesses, lanyards, helmets, safety footwear, respiratory, hearing and hand protection among others. The company’s manufacturing facilities are vertically integrated and are spread across India (Sitarganj, Lucknow, Coimbatore), South Africa (Ballito) and Brazil. The company markets and sells products under 4 global brands across US, Europe, South America, Africa and Asia Pacific. Over the last 3 decades, the company’s products have been approved by almost all the safety agencies in the world making it one of its kind globally. With a comprehensive portfolio of occupational safety solutions and an established presence across India and international markets, KARAM has built a strong platform backed by high quality product innovation, state of the art manufacturing capabilities and deep customer relationships.

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. It will also strengthen KARAM’s ability to invest in innovation, manufacturing capabilities and its global distribution network, while further solidifying corporate governance throughout the organisation.

“This investment marks an important chapter in KARAM’s journey. It 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,” said Mr. Hemant Sapra, Co-Founder and President (Global Sales and Marketing), KARAM Safety Private Limited. “We are very excited to have Motilal Oswal Alternates as a partner on our cap table. This association will further strengthen our global presence and escalate our position as market leaders in India too,” said Mr. Rajesh Nigam, Co-Founder and President (Technical), KARAM Safety Private Limited.

“India is emerging as a credible global hub for high-quality safety and industrial products, and KARAM is among the few homegrown brands that have built genuine depth in R&D, manufacturing and international distribution. The company operates in a category with strong structural tailwinds, rising workplace safety standards, growing regulatory enforcement and sustained industrial capex. We are impressed with the founders’ relentless focus on innovation, global product quality and manufacturing excellence. We are delighted to partner with them as they scale KARAM into a diversified global safety solutions company, and we will work closely with the team on acquisitions, institutional capability building and governance, ” said Mr. Prakash Bagla, Managing Director (Manufacturing Sector), Motilal Oswal Alternates.

The partnership will enable KARAM to build greater scale, capabilities and international reach as a diversified global safety solutions company.