Nimmagadda Prasad

Nimmagadda Prasad (born 11 October 1961) is an Indian industrialist from Andhra Pradesh, India. He is known for his ventures in the Pharmaceutical and Television industries, and is involved in philanthropic activities through Nimmagadda Foundation.

With master's degrees in Physics and Business Administration, Nimmagadda made a humble beginning as a company executive.

With over 15 years of professional experience in multinational pharmaceutical environment, Nimmagadda turned entrepreneur in the year 2000 by acquiring a sick pharmaceutical company in Hyderabad, and made it a great turnaround company, Matrix Laboratories Limited. With good product innovation, manufacturing scale, leadership, global marketing footprint and M&A Strategy, Nimmagadda steered Matrix Laboratories as one of the major pharmaceutical companies in India.

In a span of 6 years, Nimmagadda built Matrix to a US$1.03 billion enterprise before it was acquired by US-based Mylan N.V. in 2006.

Nimmagadda has played a vital role in establishing Care Hospitals and Asian Institute of Gastroenterology (AIG), two leading healthcare centres started in Hyderabad. He served as a board member and was also an investor in both.

Nimmagadda continued his entrepreneurial journey by acquiring Maa TV in 2006, along with Nagarjuna being the largest shareholder of the channel, and made it a leading Telugu General Entertainment Channel network. The revenue of the company has grown to ₹3.5 billion (equivalent to ₹11 billion or US$130 million in 2023) in 7 years.

In 2015, Maa TV was acquired by Star India, a wholly owned subsidiary of Rupert Murdoch-owned 21st Century Fox for a consideration of about ₹23 billion (equivalent to ₹35 billion or US$410 million in 2023).

In 2008, Nimmagadda joined as a local partner with the Ras al-Khaimah for the implementing of a mega infrastructure project under the umbrella of VANPIC for the development of a world-class port-based integrated industrial corridor in the coastal region of Andhra Pradesh. This project was expected to transform the hitherto agri-based Guntur and Prakasam districts of Andhra Pradesh into major industrial hubs. With regards to VANPIC project, Nimmagadda is embroiled in the alleged disproportionate assets case against Y. S. Jaganmohan Reddy, president of YSR Congress.

Currently, Nimmagadda has forayed into sports as a business by partnering with Sachin Tendulkar, Chiranjeevi and Allu Arvind. Their Consortium owns teams across different sports:

• Football team, Kerala Blasters, a team in the Indian super league.
• Badminton team, Benguluru Blasters, in the Premier Badminton League (PBL).
• Lately, they have acquired a team in the Pro Kabaddi League, Tamil Thalaivas. It's one of the four new teams introduced in season 5 of the league.

The consortium actively promotes grassroots and youth development programs for all these sports.

Nimmagadda contributed substantially towards the establishment of Pullela Gopichand’s badminton academy in its formative years.

In 2006, Nimmagadda sold off his majority shares in Matrix Pharmaceutical to Mylan Laboratories, USA, a large generic Pharmaceutical Company. For his achievements, the state government has honoured him with the "Best Management Award" in 2006. On the other hand, in 2012, he was jailed during CBI's investigation on Y. S. Jaganmohan Reddy's Disproportionate Assets, for allegedly having paid ₹8.5 billion (equivalent to ₹14 billion or US$170 million in 2023) on a quid pro quo amounting to ₹14.26 billion (equivalent to ₹24 billion or US$290 million in 2023) investments in VANPIC and other firms held by him, during Y. S. Rajasekhara Reddy's government. However, these assets were subsequently attached by the Enforcement Directorate of India, and Nimmagadda was granted bail after seventeen months.