India, Sept. 30 -- image credit- getty images

Chennai-based Linux Laboratories, one of India's fastest-growing domestic formulations companies, has secured $70 million in equity capital from ChrysCapital and Tata Capital Healthcare Fund III (TCHF III). ChrysCapital has acquired a significant minority stake in Linux. The transaction comprises a combination of primary capital and secondary purchase and includes the full exit of Tata Capital Healthcare Fund II (TCHF II) at approximately 4x returns. Avendus Capital acted as the exclusive financial advisor to Linux on the transaction.

Linux is a specialty-focused domestic formulations platform with a portfolio of over 125 brands spanning ~400 SKUs. Linux has established a leadership position...