Carlyle sells stake in Claris for Rs 170 cr

By: | Published: April 21, 2015 12:46 AM

Global private equity investment firm Carlyle completely exited its investment in leading pharmaceutical company Claris Lifesciences...

Global private equity investment firm Carlyle completely exited its investment in leading pharmaceutical company Claris Lifesciences on Monday by selling 11.29% stake for R170.63 crore via a bulk deal on BSE.

Carlyle sold 61.59 lakh shares at R277 per share, returning around 1.88 times to investors. The buyers include Emsaf Mauritius that bought 17.62 lakh shares at R270 per share and Tata AIA Life Insurance that bought 5.92 lakh shares at R270 per share.

In March 2006, Carlyle had invested $20 million or R90.50 crore in Claris at approximately R127 per share from the First Carlyle Ventures III fund. The investment was utilised to fund Claris’ growth plans to enter top regulated markets in the US and Europe by enabling the company to expand capacity and support R&D and product development initiatives.

Ahmedabad-based drug firm Claris Lifesciences manufactures and sells life-saving drugs for critical illness. The drugmaker’s product portfolio includes critical care segments like clinical nutrition, anesthesia, blood products, dialysis, anti-infectives and cardiology.

According to Carlyle, since 2000, it has invested approximately $1.1 billion of equity in approximately 30 transactions in India as of September 30, 2014.

Carlyle has global assets under management of over $194 billion across 128 funds as of December 2014.

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