ChrysCapital has exited mid-size drug firm IPCA Labs, offloading its entire stake to 10 mutual funds, for around Rs 560 crore. The PE firm offloaded its 4 percent stake in the company recently, mopping up returns of nearly 2.5× on its investment. The firm had invested Rs 245 crore spread over two lots – in 2014 and 2016. ChrysCapital, the largest homegrown PE fund, has approximately USD 4 billion of assets under management (AUM) across eight funds, with marquee investors including sovereign wealth funds, endowments, and pension funds.
The firm has invested in over 80 companies, with strategic mid-to-high teens’ stake in companies like Intas Pharma, Mankind Pharma, GVK Bio, and Curatio. At present, ChrysCapital has half a billion invested in healthcare firms, with a bulk – around USD 320 million – in Mankind alone.