Private Equity

PE Fund Investments

Aurobindo Pharma taps PEs for 35% stake sale in injectable biz to raise Rs.5,250-Cr

Economic Times  

Aurobindo Pharma has initiated talks with private equity funds to sell around 30-35% in its injectable business for INR 4,500-5,250 crore (USD 600-700 million), as the Hyderabad-based drugmaker plans value unlocking in its core businesses. TPG Capital Management, Advent International, Bain Capital and Blackstone have been sounded off for a potential transaction, valuing the business at INR 15,000 crore. The Carlyle Group and PAG are the two other firms which have been reached out for a potential deal. Aurobindo has hired Kotak Mahindra Capital to run the formal process to find a buyer. Aurobindo is setting up a dedicated injectable facility in Vizag for the European Union and other global markets.