Indegene Block Deal: CA Dawn Investments likely to offload 10.2% stake worth ₹1,420 crore

CA Dawn Investments, an affiliate of US-based Carlyle, is expected to sell a 10.2% stake in healthcare tech firm Indegene Ltd through block deals valued at approximately ₹1,420 crore, sources close to the development said.

The transaction involves the sale of 2.44 crore shares at a floor price of ₹580 apiece, representing a discount of around 6.4% to the company’s current market price, sources in the know told CNBC-TV18. Kotak and IIFL are acting as the brokers for the deal, sources privy to the developments told CNBC-TV18.

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Founded in 1998, Indegene offers solutions that help enable biopharmaceutical, emerging biotech and medical devices companies to develop products, launch them in the market, and drive sales throughout their life cycle.

Indegene Ltd was listed on the stock exchanges on May 13, 2024, at a premium of 46% over the issue price of ₹452. The Indegene stock listed at ₹655 on the NSE, a premium of 44.91%, while it listed at a premium of 46%, at ₹659.70 on the BSE.

Shares of Indegene Ltd ended at ₹617.20, up by ₹12.25, or 2.02%, on the BSE.