Rx Propellant Appoints Ashish Singh as CEO and Managing Director to Accelerate India Expansion!

Rx Propellant has appointed Ashish Singh as its Chief Executive Officer and Managing Director, marking a strategic move to accelerate the expansion of its science and research infrastructure platform across India. Backed by Actis and supported by General Atlantic, the company is focused on developing institutional-grade laboratory campuses in major innovation hubs serving pharmaceutical, biotechnology and advanced research organisations.

Ashish Singh has been leading the business for several months and now formally assumes the role on a full-time executive basis. His transition from Actis, where he headed real estate investments across India and Southeast Asia, represents continuity in leadership rather than a shift in direction. During his tenure at Actis, he played a key role in shaping Rx Propellant’s strategic vision, operating model and positioning as a specialised developer and operator of science infrastructure.

With more than 30 years of experience spanning real estate, investment management and business consulting, Singh brings a combination of financial discipline and operational expertise. His previous leadership roles at Standard Chartered Bank, Tishman Speyer and Cushman & Wakefield included advising on and investing in both traditional and new-economy real estate assets, including technology- and innovation-driven developments.

Under Singh’s leadership, Rx Propellant plans to strengthen its presence in India’s leading science clusters while expanding large-format, purpose-built campuses designed for research, development and scale-up operations. The company’s strategy centers on delivering laboratory facilities that meet global standards for design, sustainability and operational efficiency.

Currently, Rx Propellant has approximately four million square feet of development space across Hyderabad and Navi Mumbai, along with a strong future pipeline. These campuses are being built to serve multinational corporations as well as Indian life sciences companies seeking high-quality, scalable laboratory environments aligned with international benchmarks.

Actis has expressed strong confidence in Singh’s appointment, citing his long-standing involvement with the platform and his ability to combine investment rigor with an operator’s mindset. The leadership move is viewed as part of a broader effort to reinforce execution capabilities, strengthen governance and support long-term growth planning as the company enters its next phase.

Singh has indicated that the focus will remain on building upon the existing foundation while collaborating closely with internal teams and external partners. Key priorities include expanding the company’s footprint, enhancing operational delivery and ensuring infrastructure development keeps pace with the evolving demands of India’s science and R&D ecosystem.

As demand for specialised laboratory space continues to rise across pharmaceuticals, biotechnology and life sciences, Rx Propellant aims to position itself as a central enabler of India’s knowledge economy—providing the physical infrastructure that supports research-driven manufacturing, innovation and long-term value creation.