Chrys Capital-led consortium set to buy 10% in Mankind Pharma for $350 mn

GIC, CPPIB may co-invest in a deal that values company at $3.5 billion; deal may involve secondary sale of shares by promoters, who hold 89% stake

India-bred private equity firm Chrys Capital is set to buy 10 per cent in fast-growing Mankind Pharmaceuticals for $350 million. GIC of Singapore and CPPIB of Canada may co-invest in the deal, likely to be signed this week.

This will mark Chrys Capital’s return to Mankind Pharma, a company it helped build – in 2015, it had sold 11 per cent stake in Mankind to another PE firm Capital International for $214 million, making a tenfold return in seven years. 

Chrys Capital, arguably the most successful investor in Indian pharma, came in late to pip global PE firms like Advent International and