Singapore's state investment agency first invested in Medanta back in January 2015, paying $113 million to take the stake off Punj Lloyd. It has increased the bet in subsequent years.
At this price, Temasek was able to generate a multiple on invested capital of 8x, and an internal rate of return of 26% for this 1.12% stake over the holding period of 9 years.
Following the partial sale, Temasek continues to hold a stake of 17% in Medanta, which, based on February 15's closing price of INR1,390, is valued at just over $1 billion.
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