Shilpa Medicare reported revenue from operations of ₹1145.52 crore and a net profit of ₹60.6 crore in FY22.
• Shilpa Medicare had a market capitalization of ₹2,720 crore at the close of business on Monday. The company generates major part of its revenue from API business.
MUMBAI: Shilpa Medicare is planning to sell stake in its API (active pharmaceutical ingredient) business, its high-revenue-generating unit which was converted into a separate entity this July, two people aware of the matter said. .
The company has appointed investment bank o3 Capital to manage the stake sale, the people cited above said, requesting anonymity. The two did not disclose the size of the stake that Shilpa is planning to sell. Shilpa Medicare and O3 Capital did not respond to requests for comment.
The planned stake sale in the API business, which focuses heavily on oncology, is likely to begin with a minority stake sale, the people cited above said. Shilpa Medicare had a market capitalization of ₹2,720 crore ($332 million) at the close of business on Monday. The people mentioned above said that the company generates the bulk of its revenue from the API business.
Shilpa Medicare reported revenue from
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