New Delhi, July 25 -- Owners of Zenex Animal Health are exploring a stake sale that could value the veterinary drug maker at over $1 billion, three people aware of the plan said. Investors including Multiples Alternatives, late Rakesh Jhunjhunwala's Rare Enterprises, Canadian pension firm CPPIB and IFC are looking at either an outright sale of Zenex or a public listing, the people said on the condition of anonymity.

The company's management and investors invited bankers late last month to prepare an exit plan through a sale or listing, the people said on the condition of anonymity. The consortium had acquired the maker of livestock, poultry and pet medicines from pharma major Zydus Cadila for Rs.2,921 crore in 2021.

Sharp growth

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