| | SEPTEMBER 20238Several global funds, including Blackstone, Carlyle, PAG, CVC Capital, BPEA EQT, Brookfield Asset Management, and Apax Partners, have expressed interest in acquiring Hyderabad-based pharmaceutical company Sai Life Sciences, according to multiple people familiar with the situation. TPG Capital currently owns approximately 43.3% of Sai Life, while Swiss-healthcare fund HBM Private Equity India owns 6%, and the promoter Kanumuri family owns the remaining stake.According to sources, the promoter is seeking a valuation of $800 million (Rs. 6,500 crore) for the company. According to a PE fund manager interested in the buyout, the company is likely to be valued in the $500 million (4,000 crore) range.Sai Life is an integrated contract research & manufacturing services provider, and provides drug discovery, development, and manufacturing services to leading global pharmaceuticals & biotechnology companies. The company is also engaged in generic API (active pharmaceutical ingredients) and formulation supply upon the product going off-patent.Telangana, Karnataka, and Maharashtra are where the company's manufacturing and R&D facilities are located.Sai Life Sciences, founded in 1999, began with medicinal chemistry services and later expanded its service offerings to include process research and development services in 2002. According to the Care Ratings report, the company entered into contract manufacturing services in 2005 with the acquisition of Prasad Drugs, followed by the acquisition of Merrifield Pharma in Karnataka in 2006 to expand manufacturing capabilities. IndoSpace, India's largest investor, developer, and operator of grade A industrial and logistics real estate, has completed its second round of fundraising for IndoSpace Logistics Parks IV (ILP IV), securing an additional $150 million in investment.The Qatar Investment Authority (QIA) and Grosvenor's Diversified Property Investments business led the round, IndoSpace said in a statement on Sept 5. Following an initial close of $243 million, this second round of funding brings the fund's total size to $393 million, demonstrating the continued confidence and support of leading global investors in IndoSpace's advanced approach to industrial real estate development in India.QIA and Grosvenor's participation in this round reflects the attractive opportunity to develop modern grade A industrial and logistic parks in the world's fastest growing large economy.The funds raised in this round will continue to advance IndoSpace's mission of developing state-of-the-art industrial and logistics parks across the top eight markets in India. IndoSpace provides infrastructure and solutions to meet the evolving needs of businesses in the e-commerce, manufacturing, retail, and logistics sectors, with a strong emphasis on sustainability and modern design.The firm has a track record of delivering returns to investors while also driving economic growth and job creation in India by leveraging its deep understanding of market dynamics and strong industry relationships.ILP IV will add 25 million to 30 million square feet to the IndoSpace portfolio, strengthening IndoSpace's position as the market leader in India.ILP IV will concentrate on the largest logistics real estate markets in India, including Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune. BLACKSTONE IN QUEUE FOR ACQUISITION OF SAI LIFE SCIENCESINDOSPACE SECURES $150 MILLION INVESTMENT FROM QATAR INVESTMENT AUTHORITYIN FOCUSIN FOCUS
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