ChrysCapital to take minority stake in Linux laboratories

Mumbai: Drug maker Linux Laboratories said on Tuesday that it secured $70 million in equity funding from ChrysCapital and Tata Capital Healthcare Fund III.

ChrysCapital will acquire a significant minority stake in the Chennai-based company under the deal.

The transaction comprises a combination of primary capital and secondary purchase, and includes the full exit of Tata Capital Healthcare Fund II, the company said in a news release.


ET reported on September 9 that homegrown private equity firm ChrysCapital was set to acquire a 20-25% stake in Linux for $60-65 million (₹600 crore). Tata Capital Healthcare Fund invested ₹80 crore in Linux in 2021 to acquire an about 15% stake. Linux is expected to post revenue of ₹450-500 crore and Ebitda of ₹85-90 crore in FY27, said people in the know.

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Founded in 2007, Linux is a specialty-focused domestic formulations platform with a portfolio of more than 125 brands. It has established a leadership position in central nervous system therapies, covering epilepsy, neuropathic pain, depression and autism, and extended into dermatology, cardio-diabetics and nutraceuticals.

The proceeds will support Linux's next phase of growth, including deepening its presence in core specialties, entry into adjacent therapeutic areas, continued brand acquisitions, and further investment in manufacturing and R&D capabilities, the company said in a news release.