Bain weighs block deal to sell ₹1,700 cr Emcure stake

Global private equity firm Bain Capital is looking to divest its stake in listed pharmaceutical manufacturer Emcure Pharmaceuticals Ltd through a substantial block deal, according to two people with knowledge of the development.

- Sneha Shah & Ranjani Raghavan

The move comes after the lock-in period for selling the shares in the Pune-based company got over in February this year. As per Indian market regulations, a lock-in period for certain categories such as anchor investors and pre-listing investors is mandatory, during which period they are prohibited from selling their shares.

"Bain Capital is likely to sell stake worth over $200 million (₹1,700 crore) in the company. It has appointed investment bank Kotak Mahindra Capital Co. to help it with the deal," one of the people cited above said, requesting anonymity.