ChrysCapital, the private equity major, has bid good bye to IPCA Labs by selling its entire stake to 10 mutual funds. The firm will take home Rs. 560 crore from the deal.
The firm had invested a total of Rs. 245 crore in two phases, first in 2014 and second in 2016. Of which, in the recent past, the ChrysCapital had sold 4% stake garnering nearly 2.5 times its original investment. Now the PE firm has completely exited the company earning Rs. 560 crore through the deal.
ChrysCapital is the largest homegrown PE fund having an approximately $4 billion of asset under management spread over eight funds. It has marquee investors which includes sovereign wealth funds, endowments and pension funds.