Carlyle Group Sells Its Entire Stake of ₹1,447 Crore In Indegene

New Delhi | June 5 – Global private equity major Carlyle Group has announced that it has fully exited its investment in digital healthcare services company Indegene, selling its remaining 10.2% stake for ₹1,447 crore through open market deals on Wednesday.

According to the bulk data available on the National Stock Exchange (NSE), Carlyle, through its subsidiary CA Dawn Investments, offloaded over 2.44 crore shares of Indegene at a price range of ₹591.02 to ₹591.84 per share. The total transaction value stood at ₹1,447.17 crore.

During the bulk deal, from the 2.44 crore shares sold by Carlyle Group, 1.06 crore shares or 4.42 per cent stake in Indegene, were bought collectively by:

• PI Opportunities AIF V (Premji Invest affiliate)
• Capital Group
• Societe Generale
• Eastbridge Group (Luxembourg-based)
• Abakkus Asset Manager

The shares were purchased within the ₹591-591.48 range. Details of the remaining buyers were not immediately available on the exchange.

Carlyle had initially invested ₹917 crore (USD 122 million) in April 2021, purchasing 4.55 crore shares at ₹201 apiece. Over the years, the firm executed a well-paced exit:

• Partially during Indegene’s IPO in May 2024 at ₹452 per share
• Another tranche in December 2024 at ₹618 per share
• The final exit is now at nearly ₹591 per share

The private equity firm delivered a solid 31% internal rate of return (IRR) over its four-year investment period, underscoring the successful execution of its India-focused healthcare strategy.

Why The Complete Exit? 

The key reason for the Carlyle Group to completely exit Indegene is its strategic plan to book profits and realise the return on its investment over the last five years. As Indegene has scaled its operations and went public in May 2024, it was expected that the company would sell the stake and book profits sooner or later.

How Did The Investors React?

Following the block deal, it was anticipated that the shares of Indegene might decline. However, they were up by 3.66%, or ₹21.60 and were trading at ₹612 at around 11:35 AM during the June 5 market session. The stock made an intraday high of ₹614 and a low of ₹599.25.

What’s Ahead For Indegene?

With Carlyle’s exit complete, Indegene now enters a new phase driven by institutional investors and public market confidence. Strong demand from marquee buyers signals continued faith in its long-term growth, especially in digital healthcare and global expansion.

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