La Renon is a private-equity darling, there’s no two ways about it.

Over the last 10 years, half a dozen PE firms have put their chips on this private chronic-therapy pharma company, which, contrary to the French origin its name suggests, is based in Ahmedabad. 

Peak XV in 2015, A91 Partners in 2021, Chryscapital in 2024. Its list of investors is long and storied. And come 2025, there’s been a blitzkrieg of investments from Avendus in February, and Creador, Whiteoak, and Siguler Guff in November, all with minority stakes in this 18-year-old company.

The result? In the 18 months to November 2025, La Renon’s valuation has nearly doubled to around Rs 11,000 croreThe Economic TimesCreador to buy 7% stake in pharma company La Renon ($1.2 billion), even as its revenue has grown by a third to around Rs 1,700 crore ($200 million).

Broaden the time frame, and you’ll see the company has leapfrogged its way up the list of top 50 pharma companies (by domestic sales revenue) by 27 spots in four years, all while maintaining a 25% growth rate.

Such jumps are hardly routine in Indian pharma—accustomed as it is to growing at a rate of 7%The HinduIndian pharma companies to show healthy revenue growth of 7-9% in FY26, even as U.S. market risks loom: ICRA  or so—and neither is this frenzied frequency of fundraising. Most pharma companies raise funds every three years or so to match the often slow-moving cycles of building factories and conducting clinical trials.

La Renon’s strategy is much more aggressive. All because the company has succeeded in carving out a very specific niche for itself: specialised chronic care.

Take its quintessential nephrology drug Renolog, used to manage chronic kidney disease. Essentially, it slows down the progression of kidney failure and delays the need for dialysis. The company commanded a 30%The Economic TimesLa Renon raises $30 million from A91 Partners at $500 million valuation market share in nephrology drugs in 2021.