Motilal Oswal Alternates invests ₹600 crore in KARAM Safety to fuel global expansion

KARAM Safety Private Limited, a leading occupational safety solutions and Personal Protective Equipment company, has raised a ₹600 crore investment from Motilal Oswal Alternates, company said on Wednesday.

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.


The company markets and sells products under 4 global brands across US, Europe, South America, Africa and Asia Pacific.

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 said.

"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," said Hemant Sapra, Co-Founder and President (Global Sales and Marketing), 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," said Prakash Bagla, Managing Director (Manufacturing Sector), Motilal Oswal Alternates.

Motilal Oswal Alternates is managing an AUM of Rs 30,000 crore across private equity, real estate and private credit funds. Established in 2006, the private equity business manages Rs 18,000 crore across five funds and focuses on providing growth capital to mid-market companies across sectors of consumer, financial services, life sciences and niche manufacturing.