Carlyle will pick up a 20 per cent stake for $490 million or around Rs 3,700 crore in the pharma subsidiary called Piramal Pharma Ltd
US-based Carlyle Group Inc will pick up a 20% stake in Piramal Pharma for around $490 million (over Rs 3,700 crore), Piramal Enterprises said on Saturday
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The transaction is being done through an equity purchase stake that values each share at Rs 86.
Unlike others of its kind, the subscription window for the IPO will remain open for 4 days, which will be from March 2 to March 5
Carlyle's decision highlights the uncertainty that the spread of the virus in China and around the world has brought to financial markets
The PE firm had acquired the stake in March from BNP Paribas for Rs 5,445 crore
The shares were offloaded at an average price of Rs 938.83, valuing the transaction at Rs 2,816.5 crore, the data showed
Move follows expiry of restrictive clauses inserted at the time he sold his stake in Metropolis Healthcare to Carlyle Group
Carlyle co-CEOs to become co-executive chairmen of the Washington-based firm's board
Carlyle has invested more than $1.4 billion of equity in over 30 transactions in India