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EXCLUSIVE Visa-backed payments firm Conductor readies U S IPO - sources

EXCLUSIVE Visa-backed payments firm Conductor readies U S IPO - sources
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PEs look to buy into Integrace, True North may sell 30% stake

Synopsis True North, the private equity fund which owns Integrace, will sell about 25-30% stake to the potential investor, multiple people aware of the development, said. Getty Images A clutch of private equity funds Singapore’s Temasek Holdings, Kuala Lumpur’s Creador and homegrown Kedaara Capital are in separate talks to acquire a significant minority stake in Integrace, the Mumbai-based pharmaceutical formulations manufacturer to tap the rising potential of the Indian drug industry. True North, the private equity fund which owns Integrace, will sell about 25-30% stake to the potential investor, multiple people aware of the development, said. The deal is likely to value Integrace at ₹1,300-1,400 crore, said one of the sources. Investment bank Rothschild advises True North in the stake sale.

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