Indegene Shares Fall As Carlyle Group Looks To Exit
Carlyle Group is looking to exit by selling shares for at least Rs 1,420 crore via open market transactions.
Shares of Indegene Ltd. fell over 4% on Wednesday as US private equity firm Carlyle Group is looking to exit by selling shares for at least Rs 1,420 crore via open market transactions.
According to the term sheet accessed by NDTV Profit, the shares will be sold on Wednesday via block deal by Carlyle affiliate CA Dawn Investments. Carlyle is looking to offload 2.4 crore shares, or 10.2% stake in Indegene.
The stake will be offloaded at a floor price of Rs 580 per share, which means the sale will be at a discount of 6.41% to the closing price of Rs 619.70 apiece on Tuesday.
IIFL Capital Services Ltd. and Kotak Securities Ltd. are the bookrunners for the block deal.
Notably, CA Dawn Investments held 2.44 crore shares, or around 10.20% stake in Indegene as of the quarter ended March 31, 2025, indicating that the firm will exit the Bengaluru-based company.
Indegene Share Price Declines
Shares of Indegene fell as much as 4.68% to Rs 590.70 apiece, the lowest level since June 2. It pared losses to trade 4.57% lower at Rs 591.35 apiece, as of 9:29 a.m. This compares to a 0.13% advance in the NSE Nifty 50.
The stock has risen 19.81% in the last 12 months and fallen 1.86% year-to-date. Total traded volume so far in the day stood at 861 times its 30-day average. The relative strength index was at 53.59.
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 19.7%.
