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Singapore investment company Temasek has completed the acquisition of 10.16 per cent equity in Intas Pharmaceuticals, through a secondary purchase of shares from private equity investor ChrysCapital.
CCI clears deckThe development comes a little over a month after the Competition Commission of India cleared Temasek’s proposal from the point of view of whether the acquisition would skew competition in the market place.
ChrysCapital exited its first fund, but continues to remain invested in the company through a second investment of about ₹300 crore in 2012, an official familiar with the development said. The investment amounts to about 6 per cent equity in Intas. Besides making finished medicine forms and active pharmaceutical ingredients, the company is among the early starters in making biologically-similar drugs, as well.
With revenues of ₹2,200 crore, equally divided between exports and the domestic market, Intas looks to more than double this at over ₹5,000 crore in March 2015, the official indicated. This would be driven by growth in the regulated markets, he added.
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