Intas Pharma is planning to raise R250Cr private equity investment for expansion.
PE investors - ChrysCapital, Blackstone, Advent Capital among others are in talks to buy minority stake in the company.
Last March, Intas Pharma filed DRHP to raise upto R425Cr through fresh issue of shares, while ChrysCapital was planning to part-exit in the IPO by selling 58,10,550 shares.
The company intends to use the funds raised through fresh issue for product registration (R108.5Cr), capital expenditure (R218.75Cr) and for other corporate purposes.
Intas has planned its IPO for this year and is re-examining its timing due to market volatility.
In 2005, ChrysCapital had bought 12.47% stake for a total consideration of R53Cr and after bonus issues by the company, its stake stands at 11.2% at an average price of R45.60 per share.
MIH Group has acquired 51% stake in Gurgoan based Tek Travels Private Limited, which owns B2B travel portal Travel Boutique Online.
Infrastructure company IVRCL has sold its entire 75% stake in Chennai Water Desalination Ltd to Dubai based Utico FZC. The deal provides the plant having a networth of R24 Cr with an equity valuation of R150 Cr.