Shares of Indegene surged by 3% on Thursday, reaching an intraday high of ₹608.80. This jump effectively recouped the losses from Wednesday, which were triggered by Carlyle Group selling its entire 10.2% stake in the company.
Carlyle Group, through its affiliate CA Dawn Investments, offloaded its shares in a block deal at prices ranging from ₹591.02 to ₹591.84. However, a consortium of prominent investors quickly stepped in to acquire a significant portion of these shares.
The buyers included Premji Invest’s affiliate PI Opportunities AIF, US-based Capital Group, French firm Societe Generale, Luxembourg-based Eastbridge Group, and Abakkus Asset Manager. Together, they acquired 1.06 crore shares, totaling a 4.42% stake in Indegene, for ₹627 crore. The purchase price for these shares ranged from ₹591 to ₹591.48.
Notable acquisitions within this consortium include:
- East Bridge Capital Master Fund I: Acquired a 0.24% stake for ₹128 crore.
- Societe Generale: Picked up 18.79 lakh shares (0.21% holding) for ₹111 crore.
- Capital Group’s Small Cap World Fund: Invested ₹108 crore.
- PI Opportunities (Premji Invest’s affiliate): Contributed ₹100 crore.
Indegene is an Indian company that provides digital-led commercialization, research, and other services to biopharmaceutical, emerging biotech, and and medical device companies globally. It assists clients with drug development, clinical trials, pharmacovigilance, regulatory submissions, and sales and marketing efforts.