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Stake Sale Speculation At Two PE-Controlled Firms In India: Will Valuations Fly?

 
• By Anju Ghangurde

Two top-50 Indian firms are speculated to be on the block with valuations expected to be richer than past multiples paid by buyers. A small, less known life sciences solutions provider is also keen to rope in a CDMO partner. Scrip speaks to a cross-section of experts on the action in deal street.

Deal Action In Store In India • Source: Shutterstock

Election action may be winding down in India, at least for now, but keep an eye on deal street, with at least two domestic firms that feature in the top 50 speculated to be on the block and a small life sciences solutions provider apparently open to a buyout. That’s in addition to on-and-off stake sale rumours pertaining to Cipla Limited.(Also see "'Future Fit' Cipla: Play In Oligonucleotides, Obesity Amid Promoter Stake Action" - Scrip, 17 May, 2024.)

Sale mandates are currently believed to be running for the two private equity (PE)-controlled firms, JB Chemicals & Pharmaceuticals Ltd

Biobeams Scouts For Partners

Biobeams, a life sciences solutions provider, is actively seeking a CDMO partner for investment to scale up operations.

A potential deal could entail equity financing, joint ventures, or even a buyout of Biobeams' associated intellectual property, sources indicated. Manufacturers of biologics or firms keen to build out their capabilities in the CDMO biologics sector could perhaps be interested parties.

Biobeams is already working with potential partners and has products that have completed the preclinical stage on hand – a deal could then help scale these plans up

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