Mumbai, July 8 -- Kedaara Capital Investment Managers Ltd is likely to emerge as the frontrunner to acquire a minority stake in Olive PharmaScience Ltd in a deal that values the company at around Rs.4,500 crore, according to four people familiar with the matter.

"The private equity fund will likely acquire close to 20% or (stake worth) about $100 million in Olive," said one of the people cited above. "The round is predominantly secondary in nature as the company is profitable and does not need too much fresh capital to expand," the second person said, adding that the deal is currently undergoing due diligence.

"Other funds, including Motilal Oswal Private Equity and Quadria Capital, were also evaluating the asset," the third person said...