Poging GOUD - Vrij
Cipla in advanced talks with 2 groups
Mint Mumbai
|September 28, 2023
Promoters in talks with consortiums led by Torrent and Baring
Cipla Ltd's promoters are in advanced talks with two consortiums-one led by Torrent Pharmaceuticals Ltd, with the participation of prominent family offices, and the other a group of buyout firms led by BPEA EQT and General Atlantic-to sell a controlling stake in India's fourth-largest drugmaker for $6-7 billion, two people with direct knowledge of the matter said.
The consortium led by Torrent Pharma is backed by its promoters, the Mehta family, alongside investments from entities linked to Dilip Shanghvi-led Sun Pharmaceutical Industries Ltd and the Patel family owned Zydus Lifesciences Ltd.
A successful bid by Torrent Pharma would propel the company into the second-biggest Indian drugmaker after Sun Pharma.
Cipla's promoter group, led by its founder's son Yusuf K. Hamied, 87, is seeking a valuation of at least ₹33,000 crore for its 33.47% stake and will only cede control ifbinding bids value the drugmaker at 1 trillion, according to one of the two people.
"The latest discussions with Cipla promoters' bankers regarding valuations and the premium to market price happened on Friday," said the first person, who added that Cipla's promoters want a price of a little over ₹1,200 per share. Cipla's shares ended trading at ₹1,180.50 on Wednesday, valuing the company at ₹95,300 crore.
Dit verhaal komt uit de September 28, 2023-editie van Mint Mumbai.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN Mint Mumbai
Mint Mumbai
In a sea of tech talent, companies can’t find the workers they want
There has rarely, if ever, been so much tech talent available in the job market. Yet many tech companies say good help is hard to find.
4 mins
October 03, 2025
Mint Mumbai
Hexaware sued for $500 million in US over patent breach
American IT services firm Natsoft Corp. has sued Hexaware Technologies Ltd for breach of contract and patent infringement, seeking $500 million in damages from the latter, in one of the biggest patent cases against an Indian IT firm.
3 mins
October 03, 2025
Mint Mumbai
GST boom ahead?
India's latest goods and services tax (GST) revenue figures paint an optimistic picture.
1 min
October 03, 2025
Mint Mumbai
H-1B clampdown may extend to US college faculty
Rising anti-immigration sentiment in the US is no longer confined to moves to limit foreign technology workers from entering the country.
2 mins
October 03, 2025
Mint Mumbai
FPIs pull record ₹2 tn on valuations, weak rupee
Heavy outflows could cap market gains; Nifty returns just 0.3% in dollar terms
2 mins
October 03, 2025
Mint Mumbai
Instant grocery delivery is going luxe to stand out
Blinkit joins the race as it expands to ozone-washed fruits and artisanal breads to cheese
2 mins
October 03, 2025
Mint Mumbai
Next-gen reforms to tackle land, women's participation
The initiatives seek to tackle some of the intractable challenges in India's development story
2 mins
October 03, 2025
Mint Mumbai
Why India's best students face a tough job market
Students entering this year's placement season are stepping into a rough job market.
2 mins
October 03, 2025
Mint Mumbai
Govt scans e-commerce cos’ COD charges, refund delays
The government will examine if cash-on-delivery charges imposed by online retailers are aimed at nudging consumers to pay upfront, and why refunds are delayed or blocked if prepaid orders are cancelled, said two people aware of the matter.
2 mins
October 03, 2025
Mint Mumbai
WHY INDIA IS SEEKING A NEW SUNRISE IN JAPAN
India missed out on Japanese investment in its initial post-reform years. That could change now
7 mins
October 03, 2025
Translate
Change font size