Wockhardt has told investment firm Moelis & Company that it intends to sell a 40 percent stake.
Moneycontrol was the first to report that most private equity funds are keen on a majority stake in the domestic formulation business.
Wockhardt has told investment firm Moelis & Company that it intends to sell a 40 percent stake, the report said. But interested purchasers are eyeing a controlling interest of 51 percent.
The valuation of Wockhardt's domestic formulations business is pegged at Rs 4,000-4,500 crore.
Torrent Pharma has also expressed interest, the report said.
Habil Khorakiwala-owned Wockhardt in 2018 released nine new products in the Indian market.The company's key domestic brands include Aceroc, Ace Proxyvon, Biovac-B, Brozedex, Clopione, Cavidin INH, Gainehair Solution, Viscodyne and Zedex.The Great Diwali Discount!
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