Global investment firm Carlyle group exited Indegene by divesting its entire 10.2 per cent stake in digital healthcare services for Rs 1,447 crore through open market transactions.
According to the bulk deal data available on the NSE, Carlyle group, via its entity CA Dawn Investments, offloaded over 2.44 crore shares in Indegene, representing a 10.20 per cent stake in the company. The shares were offloaded in the price range of Rs 591.02- 591.84 apiece, taking the combined transaction value to Rs 1,447.17 crore.
Meanwhile, a PTI report stated, a combined total of 1.06 crore shares, equivalent to a 4.42 per cent stake in Indegene, was acquired for Rs 627 crore by Premji Invest’s affiliate PI Opportunities AIF V, Capital Group, Societe Generale, Luxembourg-based Eastbridge Group, and Abakkus Asset Manager.
The shares were picked up in the price range of Rs 591-591.48 apiece, taking the aggregate deal value to Rs 626.85 crore.
The details of the other buyers of Indegene’s shares could not be ascertained on the NSE.
Carlyle Group achieved a strong 31 per cent internal rate of return over four years. This lucrative exit highlights a significant milestone, reflecting the vast growth potential of India’s digital healthcare sector.
Earlier in April 2021, Carlyle had invested $122 million (Rs 917 crore) in Indegene by acquiring 45.5 million shares at Rs 201 each on the stock exchanges.