Intas Pharma To Raise R250Cr From PE Funds For Expansion
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.
Incorporated in 1985, Ahmedabad - based Intas is engaged in the development, manufacture and marketing of pharmaceutical formulations.
The company’s products are marketed in over 50 countries, either directly, through our subsidiaries or indirectly, through arrangements with various leading global pharmaceutical companies for the distribution of products.
Promoters- Husmukh Chudgar, Binesh Chudgar, Nimish Chudgar, Urmish Chudgar, Bina Chudgar, Bindi Chudgar, Parul Chudgar, Shail Chudgar, Intas Enterprise Pvt Ltd, Equatorial Pvt Ltd and promoter group together holds 88.77% in the company.
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ChrysCapital Investment Advisors
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ChrysCapital III LLC
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|Intas Pharmaceuticals Limited||
Hasmukh K Chudgar & Family
Intas Enterprise Private Limited
Equatorial Private Limited
|2nd Floor, Chinubhai Centre, Ashram Road.||http://www.intaspharma.com|
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