Quadria Is Said to Weigh Stake Sale in $2 Billion Firm Encube

Asian healthcare-focused private equity firm Quadria Capital is considering selling its minority stake in Indian topical pharmaceutical company Encube Ethicals Pvt, people familiar with the matter said.

Quadria Capital is discussing with prospective advisers a potential exit from the Mumbai-based company and seeking a valuation of $2 billion for the entire business, the people said, asking not to be identified as the discussions are private. The considerations are preliminary and no final decisions have been made, the people said.

Representatives for Singapore-based Quadria Capital and Encube founder Mehul Shah didn’t immediately respond to requests for comment.

Investment funds including ...