Private Equity

Liquidity Events

ChrysCapital, Sequoia, promoters look to sell Curatio Healthcare for Rs.2,300-Cr

Economic Times  

Private equity investors ChrysCapital and Sequoia and the promoters plan to sell Curatio Healthcare, a Chennai-based pharmaceutical company focused on skincare products. The deal is likely to value the company at INR 2,000-2,300 crore. Investment banks Edelweiss and Mape Advisory have been hired to run the sale process. Feelers have been sent to buyout funds, including Carlyle, KKR, Blackstone, Advent, Apax Partners, TPG and Kedaara, and domestic pharma firms such as Dr Reddy's, Torrent and Cadila Healthcare. Sequoia holds about 33% stake in Curatio Healthcare, ChrysCapital, 20% and promoters, including GK Ramani, and the management hold the rest. In 2018, ChrysCapital acquired the minority stake from Fulcrum Venture India in a deal worth INR 130 crore. Sequoia invested about INR 100 crore in Curatio Healthcare in 2014. Curatio operates with a network of more than 700 distributors, reaching over 6,000 doctors across India, focusing on dermatologists, pediatricians and gynaecologists. Its largest brand is Tedibar baby soap.