On Tuesday, it was announced by Morgan Stanley's private equity unit that it had invested 1.82 billion rupees ($37.5 million) in unlisted Indian castor oil maker, Biotor Industries, with the motive to mark its first private equity investment in India. Via a statement, Chin Chou, managing director and head of Morgan Stanley Private Equity Asia said, "We are pleased to be making our first investment in India." He further added, "The Company expects to deploy a significant amount of the Asia fund in India in the next two years."

Las year, Morgan Stanley raised $1.5 billion for an Asia dedicated fund. It said that it would get a "significant minority" stake for its investment.

Morgan Stanley informed, "Biotor is a manufacturer of castor oils and castor derivatives with operations ranging from contract farming of castor seeds to wholly owned retail operations in Europe and the United States."