Indegene Block Deal: Eastbridge, Premji Invest, Societe Generale Buy After Carlyle Exits
Carlyle affiliate CA Dawn Investments divested its entire 10.2% stake in the digital healthcare services provider for Rs 1,447 crore.
Marque foreign institutional investors were among the buyers of Indegene Ltd. shares after US private equity firm Carlyle Group exited its equity holding.
Carlyle affiliate CA Dawn Investments divested its entire 10.2% stake in the digital healthcare services provider for Rs 1,447 crore through open market transactions on Wednesday. The shares were offloaded in the price range of Rs 591.02-591.84 apiece, as per NSE data.
Premji Invest's affiliate PI Opportunities AIF, US-based Capital Group, French investment firm Societe Generale, Luxembourg-based Eastbridge Group and Abakkus Asset Manager cumulatively bought 1.06 crore shares or 4.42% stake in Indegene for Rs 627 crore.
The shares were picked up in the price range of Rs 591-591.48 apiece.
East Bridge Capital Master Fund I bought 0.24% equity for Rs 128 crore, Societe Generale bought 18.79 lakh shares (0.21%) for Rs 111 crore and Capital Group's Small Cap World Fund purchased shares worth Rs 108 crore.
Azim Premji-backed PI Opportunities invested Rs 100 crore.
Shares of Indegene closed 4% lower at Rs 594.5 on the NSE, compared to a 0.3% advance in the benchmark Nifty 50. The stock has risen 12% in the last 12 months and fallen 2% year-to-date.
Out of six analysts tracking the company, three maintain a 'buy' rating, two recommend a 'hold' and one suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 19%.
