Aurobindo appoints Merlion MD as director

Aurobindo Pharma Limited (Aurobindo) issued 2,370,000 equity shares to Merlion India Fund Limited (Merlion India) at Rs 375 per share, aggregating to Rs 88.9 crore.

Merlion India will have a 4.45 per cent shareholding in the company's fully-diluted post-issue equity, after exercise of promoter warrants allotted recently.

Karam Butalia, the managing director of Merlion India and global head for private equity at Standard Chartered, has also been appointed as a director of Aurobindo. Citigroup acted as the exclusive arranger for this appointment by Aurobindo.

"Aurobindo represents a key pharmaceutical sector investment for Merlion India. With its strong chemistry skills and cost-advantage, Aurobindo will soon be able to transform itself into a global generics player," said Karam Butalia.