Latest news with #Indegene
Economic Times
5 days ago
- Business
- Economic Times
Sunil Singhania picks stake in Indegene, stock up 4%
Indegene shares: Sunil Singhania's fund acquired a stake in the company via a significant block deal. Synopsis Indegene shares: Abakkus was one of several institutional investors that participated in the transaction through which private equity giant Carlyle Group fully exited its 10.2% stake in the digital healthcare company. Shares of Indegene Ltd rose as much as 3.7% to Rs 611.50 on the BSE on Thursday, a day after Sunil Singhania's Abakkus Emerging Opportunities Fund picked up a stake in the company through a large block deal. Abakkus was among several institutional investors that bought shares in the transaction where private equity major Carlyle Group exited its entire 10.2% holding in the digital healthcare firm. ADVERTISEMENT A total of 2.53 crore shares, amounting to 10.56% of Indegene's equity, changed hands on Wednesday, June 4, at an average price of Rs 591 apiece, according to exchange data released Thursday. Carlyle, through its unit CA Dawn Investments, was the sole seller in the deal, garnering Rs 1,447 crore from the divestment. Alongside Abakkus, other buyers included East Bridge Capital Master Fund, Societe Generale, Smallcap World Fund, and Premji Invest's affiliate PI Opportunities AIF V. Together, these investors picked up 1.06 crore shares, or 4.42% stake, for Rs 627 crore. The shares were acquired in the price range of Rs 591–591.48 each. Details of other buyers were not available on the National Stock Exchange as of exit marks the end of a four-year investment in Indegene. The global private equity firm had invested $122 million (Rs 917 crore) in April 2021, purchasing 4.55 crore shares at Rs 201 apiece. ADVERTISEMENT Since then, it has sold shares in phases, first during Indegene's IPO in May 2024 at Rs 452 apiece, then at Rs 618 in December 2024, and finally at around Rs 591 this week. The investment delivered an internal rate of return of 31% for Carlyle, underscoring the strong returns possible in India's digital healthcare shares had fallen 4.07% on Wednesday to Rs 594.50 following the block transaction, but rebounded on Thursday as investor interest in the stock remained firm. ADVERTISEMENT Also read | Carlyle group exits Indegene; sells 10.2% stake for Rs 1,447 crore (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
5 days ago
- Business
- Time of India
Sunil Singhania picks stake in Indegene, stock up 4%
Shares of Indegene Ltd rose as much as 3.7% to Rs 611.50 on the BSE on Thursday, a day after Sunil Singhania 's Abakkus Emerging Opportunities Fund picked up a stake in the company through a large block deal. Abakkus was among several institutional investors that bought shares in the transaction where private equity major Carlyle Group exited its entire 10.2% holding in the digital healthcare firm. A total of 2.53 crore shares, amounting to 10.56% of Indegene's equity, changed hands on Wednesday, June 4, at an average price of Rs 591 apiece, according to exchange data released Thursday. Carlyle, through its unit CA Dawn Investments, was the sole seller in the deal, garnering Rs 1,447 crore from the divestment. Who bought? Alongside Abakkus, other buyers included East Bridge Capital Master Fund, Societe Generale, Smallcap World Fund, and Premji Invest's affiliate PI Opportunities AIF V. Together, these investors picked up 1.06 crore shares, or 4.42% stake, for Rs 627 crore. The shares were acquired in the price range of Rs 591–591.48 each. Details of other buyers were not available on the National Stock Exchange as of Thursday. Carlyle's phased exit Carlyle's exit marks the end of a four-year investment in Indegene. The global private equity firm had invested $122 million (Rs 917 crore) in April 2021, purchasing 4.55 crore shares at Rs 201 apiece. Since then, it has sold shares in phases, first during Indegene's IPO in May 2024 at Rs 452 apiece, then at Rs 618 in December 2024, and finally at around Rs 591 this week. The investment delivered an internal rate of return of 31% for Carlyle, underscoring the strong returns possible in India's digital healthcare sector. Indegene's shares had fallen 4.07% on Wednesday to Rs 594.50 following the block transaction, but rebounded on Thursday as investor interest in the stock remained firm. Also read | Carlyle group exits Indegene; sells 10.2% stake for Rs 1,447 crore ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
5 days ago
- Business
- Mint
Indegene share price jumps 3% as Premji Invest's affiliate, Societe Generale and others pick stake
Indegene shares recovered Wednesday's losses by surging as much as 3 per cent in Thursday's session after the stakes of the company exchange hands in open market transactions. At 10:10 am, the scrip climbed to day's high to ₹ 608.80 apiece on June 5. US-based private equity firm Carlyle Group recently sold its entire 10.2 per cent holding in the company, leading to a 4 per cent drop in the stock on Wednesday. According to NSE data, Carlyle Group, CA Dawn Investments, offloaded the shares through a block deal, with IIFL Capital Services Ltd. and Kotak Securities Ltd. acting as bookrunners. The shares were sold in the price range of ₹ 591.02 to ₹ 591.84 each. However, Premji Invest's affiliate PI Opportunities AIF, US-based Capital Group, French firm Societe Generale, Luxembourg-based Eastbridge Group, and Abakkus Asset Manager collectively acquired 1.06 crore shares — a total of 4.42 per cent stake in Indegene — for a total of ₹ 627 crore, at a price between ₹ 591 and ₹ 591.48 per share. East Bridge Capital Master Fund I acquired a 0.24% stake for ₹ 128 crore, while Societe Generale picked up 18.79 lakh shares, amounting to a 0.21% holding, for ₹ 111 crore. Capital Group's Small Cap World Fund also invested ₹ 108 crore in shares, and PI Opportunities, supported by Azim Premji, contributed ₹ 100 crore. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
6 days ago
- Business
- Business Standard
E-commerce giant Flipkart offloads 6% stake in ABFRL; sells 73 mn shares
Carlyle Group affiliate firm, C A Dawn Investments, on Wednesday sold its entire 10.20 per cent in Indegene for ₹1,447 crore BS Reporter Flipkart Investments on Wednesday offloaded 6 per cent stake in Aditya Birla Fashion & Retail Ltd (ABFRL) for ₹588 crore. The e-commerce giant sold 73.17 million shares at ₹80.32 apiece. Shares of ABFRL fell nearly 11 per cent in secondary market trading to end at ₹76.8. Carlyle Group affiliate firm exits Indegene Carlyle Group affiliate firm, C A Dawn Investments, on Wednesday sold its entire 10.20 per cent in Indegene for ₹1,447 crore. It sold nearly 24.5 million shares at ₹591 apiece. Shares of Indegene fell 4.7 per cent to end at ₹590. Founder Kunhikannan sells 1.76% in Kaynes Ramesh Kunhikannan, founder, Kaynes Technology on Wednesday divested his 1.76 per cent stake in the firm. He sold 11.25 million shares at ₹5,551 apeice to raise ₹623 crore. Shares of Kaynes fell about a per cent to close at ₹5,730 crore. BS reporters Motilal Oswal Mutual Fund (MF) launched the first passive fund tracking the BSE 1000 index. The scheme Motilal Oswal BSE 1000 Index Fund, representing top 1000 listed companies offers exposure to about 94 per cent of the country's listed market capitalisation. The index at present has firms across 22 sectors. The top-10 stock weight is capped at 33 per cent to reduce concentration risk. Motilal Oswal is also in the process of finalising its plan to launch a scheme under the newly-introduced specialised investment fund (SIF) category in the next 6 months. Sekhmet Pharma appoints Santosh Mahil MD & CEO Private equity consortium led by PAG Sekhmet Pharmaventures has appointed Santosh Kumar Mahil (pictured) as the managing director (MD) and chief executive officer (CEO). Sekhmet is an investment platform that helps India's next generation of active pharmaceutical ingredient (API) companies. Mahil has nearly three decades of experience, having held leadership roles at Lupin, USV, Unichem, and Shilpa Medicare. BS reporter
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Business Standard
6 days ago
- Business
- Business Standard
Carlyle group exits Indegene; sells 10.2% stake for Rs 1,447 crore
Global investment firm Carlyle group on Wednesday 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, US-based Carlyle group, through its arm CA Dawn Investments, sold more than 2.44 crore shares, amounting to a 10.20 per cent stake in Indegene. 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, Premji Invest's affiliate PI Opportunities AIF V, Capital group, Societe Generale, Luxembourg-based Eastbridge Group and Abakkus Asset Manager cumulatively bought 1.06 crore shares or 4.42 per cent stake in Indegene for Rs 627 crore. 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. Details of the other buyers of Indegene's shares could not be ascertained on the National Stock Exchange (NSE). Shares of Indegene declined 4.07 per cent to close at Rs 594.50 per piece on the NSE. PE firm Carlyle group's clocked an impressive 31 per cent internal rate of return over a four-year period. This highly profitable divestment marks a pivotal moment, underscoring the immense potential of India's digital healthcare sector. In April 2021, Carlyle invested USD 122 million (Rs 917 crore) in Indegene by acquiring 45.5 million shares at Rs 201 each on the stock exchanges. Carlyle executed a phased exit as Indegene scaled its global operations and went public in May 2024. The shares were sold by the PE firm at Rs 452 apiece during the initial public offering, at Rs 618 per share in December 2024, and the final tranche at about Rs 591 each in June 2025, enabling Carlyle to secure significant returns amidst varying market conditions.
