Multiple private equity firms could potentially sell a portion of their pharmaceutical investment due to initial public offering plans.
In the bustling world of Indian business, a significant development has taken place. The private equity firm, Multiples Alternate Asset Management, has announced a part-exit from one of its portfolio assets, though the exact name of the company remains undisclosed. This move comes ahead of a potential sale to a continuation fund, but the specific details have yet to be revealed.
The portfolio asset in question is reportedly focusing on growth in smaller cities and towns, much like Shubham Housing, another asset under Multiples PE's wing. Shubham Housing, a key player in the real estate sector, has been making strides in expanding its reach beyond the usual urban hubs.
Meanwhile, another intriguing story unfolds in the pharmaceutical sector. Cronus Pharma, a bulk drug company that saw a failed deal four years ago, has once again drawn PE interest. The exact nature of the PE interest in Cronus Pharma is not yet clear, but it's worth noting that Multiples PE may be one of the parties involved. The specific individual or entity planning to distribute Multiples Alternate Asset Management's stake in a bulk drug company managed by Multiples Alternate Asset Management is currently unidentified.
The private equity secondaries market in India is showing signs of strengthening, with more firms exploring exit strategies. The investment in Cronus Pharma was made in a consortium with other investors, but the exact composition of this consortium remains undisclosed.
In other news, the portfolio asset planning an IPO remains unspecified. Kedaara Capital, IndiGo, and BiofuelCircle are also mentioned in the news, but their exact involvement in these deals is not yet clear.
As these developments unfold, the business landscape in India continues to evolve, with companies navigating growth, expansion, and strategic exits. Stay tuned for more updates as these stories continue to unfold.
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