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.
EY acted as the sell-side investment banking advisor to KARAM Safety Private Limited.
About KARAM Safety Private Limited : KARAM Safety is a leading global occupational safety brand with a vast portfolio of over 3,800 certified products conforming to multiple national and international standards, and exports its safety solutions to over 140 nations. The company has a team of over 4,500 professionals who have been relentlessly developing, testing, and evaluating products, earning KARAM Safety a reputation as one of the finest global companies providing world-class personal protective equipment (PPE), fall protection solutions, and fixed-line systems. KARAM Safety is a responsible brand that values empowering people, uplifting society, and enriching the environment.
About Motilal Oswal Alternates: MO Alternate Investment Advisors Private Limited (“Motilal Oswal Alternates”) is a subsidiary of Motilal Oswal Financial Services Limited (MOFSL), a diversified financial services group with businesses in Securities, Asset Management, Housing Finance, Private Equity and Investment Banking. Motilal Oswal Alternates is managing an AUM of ~ INR 30,000 crore across private equity, real estate and private credit funds. Established in 2006, the private equity business manages ~ INR 18,000 crore across five funds and focuses on providing growth capital to mid-market companies across its preferred sectors of consumer, financial services, life sciences and niche manufacturing.
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