Indegene Share Price: CA Dawn Investments is looking to sell its entire stake of 10.2 percent in Indegene, valued at approximately Rs 1,420 crore.
The New-York based firm that counts PNB Housing Finance Ltd. and Yes Bank Ltd. in its India portfolio, is keen to acquire wealth and asset management companies as local households move their savings toward financial assets.
The US investment firm has held early talks with advisers about a possible share sale in Mumbai that may take place as soon as next year, the people said, asking not to be identified because the information isn’t public.
According to the bulk deal data available on the National Stock Exchange (NSE), CA Dawn Investments, an affiliate of US-based Carlyle, sold 1,02,63,785 shares amounting to a 4.3 per cent stake in Indegene.
Worldpac, a wholesale parts distribution business, generated about $2.1 billion in revenue for the year ended June 30.
Reports also suggest that the stake sale will unlock a 90-day lock-in period on any further sale of PNB Housing Finance shares by the Carlyle Group.
With the increased stake on offer, the Carlyle Group now aims to earn Rs 2,511 crore from the block in PNB Housing Finance as compared to previous Rs 1,256 crore.
The Carlyle Group likely earned Rs 1,602 crore by selling 2.2 percent stake in Yes Bank through the block deal.
The deal is likely to be launched today. Goldman Sachs is said to be the broker to the deal, sources added.
The US investment firm is speaking with potential arrangers to help prepare for an IPO in Mumbai this year or next, the people said, asking not to be identified because the matter is private. A share sale might value Hexaware at $4 billion or more, they said.
The stock of Yes Bank has surged 13 percent in the past one month, as against 1 percent decline in the benchmark Sensex.
In August, Carlyle and Quest Global announced they had reached a definitive partnership agreement, whereby Carlyle would be acquiring a minority stake in the company.