Quadria Capital and Gulf Islamic’s Investment in Encube Ethicals

Khaitan & Co. advised Quadria Capital Management, while Gulf Islamic was assisted by Harry Elias Partnership LLP. Healthcare-focused private equity firm Quadria Capital and Dubai-based Gulf Islamic Investments (GII) have bought a minority stake in Indian drugmaker Encube Ethicals Pvt. Ltd. The India- and Southeast Asia-focussed PE firm has picked up a 15% stake in Encube through a combination of primary and secondary transactions. Gulf Islamic joined Quadria as a co-investor. The Encube deal also provided an exit to Indian private equity firm Multiples Alternate Asset Management ( Multiples Private Equity Fund II Limited and Plenty Private Equity Fund I Limited). From the primary deal, Encube will use the capital to expand its manufacturing footprint and invest in its complex-generics business. It may also look to enter other markets and explore inorganic growth opportunities. Kotak Mahindra Capital Co was the sole financial advisor to Encube and the selling shareholder on the deal. The Khaitan & Co. team consisted of Partner Bharat Anand (Picture), Mayank Singh (Partner), Kairavi Shah (Senior Associate), Vishal Achanta (Senior Associate) and Deeksha Agarwalla (Associate). Kennedy Chen, Counsel of Harry Elias Partnership, worked closely with Mr Kinshuk Kislaya, Senior Legal Counsel of GII. Involved fees earner: Kennedy Chen - Harry Elias Partnership LLP; Vishal Achanta - Khaitan & Co.; Deeksha Agarwalla - Khaitan & Co.; Bharat Anand - Khaitan & Co.; Kairavi Shah - Khaitan & Co.; Mayank Singh - Khaitan & Co.; Law Firms: Harry Elias Partnership LLP; Khaitan & Co.; Clients: Gulf Islamic Investments; Quadria Capital;
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Khaitan & Co. advised Quadria Capital Management, while Gulf Islamic was assisted by Harry Elias Partnership LLP. Healthcare-focused private equity firm Quadria Capital and Dubai-based Gulf…

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