Temasek Buys a Ten Percent Stake in Intas Pharmaceuticals from ChrysCapital (Asia)

Source: Competition Commission of India, VCCircle  |  Author(s): Bhawna Gupta

Singaporean sovereign wealth fund Temasek has received regulatory approval from the Competition Commission of India to acquire a ten percent stake in India-based pharmaceutical formulation development company Intas Pharmaceuticals from India-focused investment firm ChrysCapital. ChrysCapital, which holds a 16.8 percent stake in the company, had previously invested INR3.53 billion (approximately US$58 million) through two funds, ChrysCapital III and ChrysCapital V, in 2005 and 2012, respectively. Financial details of the transaction were not disclosed.