Merlion India fund buys into Aurobindo

The Temasek and Standard Chartered Private Equity vehicle goes long Indian biotech.

The Merlion India fund has reached an agreement to buy 3.1 million shares or 5.46% of listed Indian pharmaceutical company Aurobindo Pharma. The fund will pay Rs302 per share for a total consideration of Rs936.2 million $20.5 million. The price that Merlion is paying for the shares is in compliance with SEBI guidelines using the last two weeks average traded price, which is calculated as the average of the highlow of the last two weeks' prior to the...

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