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Strategic Ventures Fund Exits Shilpa Medicare With 4x Returns

19 January, 2010

Strategic Ventures Fund Ltd (SVF), a private equity fund managed by Frontline Strategy, has divested its complete stake in Shilpa Medicare Ltd. for more than Rs 34 crore. The fund, which held nearly an 8% stake in the company till December 2009, sold 1.7 million shares representing 7.72% stake in Shilpa Medicare through open market sales. SVF has made 4x returns on its investment made in 2005, said a company statement.

SVF has made a total of 15 investments in Indian companies and this is its eighth complete divestment so far, added the statement. Shilpa Medicare Ltd is a Karnataka-based pharmaceuticals company engaged in the manufacturing of Active Pharmaceutical Ingredients (API) fine chemicals, intermediates, herbal products and specialty chemical products.

The other investment of SVP in India is Titagarh Wagons, CBay Systems & Services, Astra Microwave Products and Alfa Transformers.

SVF is part of Frontline Strategy Limited, an asset management company in the US with special focus on private equity investments. It currently manages two India centric funds: Strategic Ventures Fund and India Industrial Growth Fund.


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Strategic Ventures Fund Exits Shilpa Medicare With 4x Returns

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