<ul><li>US-based Carlyle Group Inc will pick up 20% stake in Piramal Pharma for around USD 490 million (over ₹3,700 crore).</li><li>The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around USD 490 million, it said. </li><li>The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal, it added.</li></ul>US-based Carlyle Group Inc will pick up 20% stake in Piramal Pharma for around USD 490 million (over ₹3,700 crore), <keyword id="6397591" type="COMPANY" weightage="20" keywordseo="piramal-enterprises">Piramal Enterprises</keyword> said on Saturday. "CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of <keyword id="154949" type="COMPANY" weightage="20" keywordseo="The-Carlyle-Group">The Carlyle Group</keyword> Inc has agreed to invest fresh equity capital for a 20 per cent stake in <keyword id="9473224" type="COMPANY" weightage="20" keywordseo="piramal-pharma-ltd">Piramal Pharma Ltd</keyword>," the Ajay Piramal-led company said in a regulatory filing. The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around USD 490 million, it said. The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal, it added.

Carlyle Group to buy 20% stake in Piramal Pharma for over ₹3,700 crore

(Eds: Adding details) New Delhi, Jun 27 () The US-based global investment firm Carlyle Group Inc will buy 20 per cent stake in Piramal Pharma for around USD 490 million (over Rs 3,700 crore), a statement said on Saturday. The capital raise will accelerate Piramal Pharma's organic and inorganic growth plans, the Ajay Piramal-led Piramal Enterprises and Carlyle Group said in the joint statement. "... CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc has agreed to invest fresh equity capital for a 20 per cent stake in Piramal Pharma Ltd...," it said. The transaction values the pharma business at an enterprise value (EV) of USD 2.775 billion (over Rs 20,980 crore), with an upside component of up to USD 360 million (over Rs 2,720 crore) depending on the company's FY21 performance, the statement said. "Based on the EV (excluding the upside component), exchange rate and pharma net debt as on March 31, 2020, the estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to USD 490 million (over Rs 3,700 crore)," it added. The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal. The transaction is expected to close in 2020, it added. "This is an affirmation of the strength of our ability to build new, attractive and scalable businesses with a significant runway for continued organic growth and opportunities for consolidation," Piramal Enterprises Chairman Ajay Piramal said. This infusion of funds "will further strengthen our balance sheet and provide us with a war chest for the next phase of our strategy," he added. Asked about the stake Piramal Enterprises will hold in the company post the transaction, Ajay Piramal told it will have 80 per cent stake. On whether Piramal Enterprises Ltd (PEL) will list Piramal Pharma going forward, he said: "We have publicly stated in the past, that in the medium term we will separate the two PEL businesses. This is a step closer towards that endeavour." PEL has two businesses -- pharma and financial services. Piramal Enterprises Executive Director Nandini Piramal said, "This fresh growth investment into our pharma business will be used as growth capital for the pharma businesses to expand capacity across our sites as well as to tap attractive acquisition opportunities within and outside India." "In the interim, the proceeds from this capital raise may also enable us to further strengthen our balance sheet through deleveraging in the near term," she added. Carlyle Asia Partners advisory team MD Neeraj Bharadwaj said Piramal Pharma has built a strong, diversified pharma business with a solid market position and scale in each of its core business segments of pharma solutions, critical care and consumer products. "Given global pharma industry trends, we see attractive opportunities for organic as well as inorganic growth in each of these businesses," he added. In similar vein, Carlyle Asia Partners advisory team Co-Head Greg Zeluck said, "This investment marks the beginning of an important partnership with the Piramal family, and further underscores our commitment to the Indian market." Carlyle has a history of investing in the healthcare sector, both in India and globally. It had in May announced a majority stake investment in Indian animal healthcare firm SeQuent Scientific, which is expected to close in the third quarter of 2020, the statement said. It has also made investments in Medanta Medicity Hospital, and diagnostic chain Metropolis Healthcare, among others in the Indian healthcare sector. Rothschild &amp; Co served as financial advisor and Cyril Amarchand Mangaldas and Covington &amp; Burling LLP served as legal advisors to Piramal Enterprises Ltd on this transaction. JP Morgan served as financial advisor and AZB &amp; Partners and White &amp; Case served as legal advisors to Carlyle. AKT ABM ABM

Carlyle Group to buy 20 pc stake in Piramal Pharma for over Rs 3,700 cr

New Delhi, <keyword id="640026" type="COMPANY" weightage="20" keywordseo="Muthoot-Finance-Ltd-">Muthoot Finance Ltd.</keyword> on Monday announced its 23rd series of Public Issue of Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each. The Issue is with a base issue size of Rs 100 crores with an option to retain oversubscription upto Rs 1,900 crores aggregating up to tranche limit of Rs 2,000 crores. The Issue opens on October 27 and closes on November 20 with an option to close on such earlier date or extended date as may be decided by the Board of Directors or NCD committee, the company said in a statement. The Secured NCDs proposed to be issued under this Issue have been rated CRISIL AA/Positive by CRISIL and (ICRA) AA (Stable) by ICRA. The NCDs are proposed to be listed on BSE. The allotment will be on a first come first serve basis. There are six investment options for Secured NCDs with 'Monthly' or 'Annual' interest payment frequency or 'on maturity redemption' payments with coupons ranging from 7.15 per cent p.a to 8.00 per cent p.a. George Alexander Muthoot, Managing Director, <keyword id="389214" type="DOMAIN" weightage="20" keywordseo="Muthoot-Finance-Ltd">Muthoot Finance Ltd</keyword>., said "The issue will augment the company's long term funding requirements, thereby supporting the stable growth that our company envisages. "We expect the current issue too be well received by the market in line with our previous NCD issues as there are limited comparable investment avenues available." The funds raised through this issue will be utilised primarily for lending activities of the Company. The Lead Managers to the Issue are Edelweiss Financial Services Limited, J.M. Financial Limited, <keyword id="10170868" type="COMPANY" weightage="20" keywordseo="equirus-capital-private-limited">Equirus Capital Private Limited</keyword> and A.K. Capital Services Limited. <keyword id="10170867" type="COMPANY" weightage="20" keywordseo="idbi-trusteeship-services-limited">IDBI Trusteeship Services Limited</keyword> is the Debenture Trustee for the Issue. Link <keyword id="10170866" type="COMPANY" weightage="20" keywordseo="intime-india-private-limited">Intime India Private Limited</keyword> is the Registrar to the Issue. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/piramal-group-is-ready-for-acquisitions-in-both-pharma-and-financial-services/articleshow/78865009.cms" data-type="tilCustomLink">EXCLUSIVE: Piramal Group is ready for acquisitions in both pharma and financial services</a> <a href="https://www.businessinsider.in/stock-market/news/ril-future-retail-stocks-under-pressure-after-singapore-arbitration-court-rules-in-favour-of-amazon/articleshow/78865963.cms" data-type="tilCustomLink">RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon</a> <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

You Searched For "piramal pharma ltd" and got 3 results

Carlyle Group to buy 20% stake in Piramal Pharma for over ₹3,700 crore

PTI

Carlyle Group to buy 20 pc stake in Piramal Pharma for over Rs 3,700 cr

PTI

Muthoot Finance to raise ₹2,000 crore through bond sale

IANS