US-based Carlyle Group Inc will pick up 20 per cent stake in Piramal Pharma for aroundUSD490 million (over Rs 3,700 crore), Piramal Enterprises said on Saturday.

"... CA Clover Intermediate II Investments, an affiliated entity of CAP V Mauritius Ltd, an investment fund managed and advised by affiliated entities of The Carlyle Group Inc has agreed to invest fresh equity capital for a 20 per cent stake in Piramal Pharma Ltd," the Ajay Piramal-led company said in a regulatory filing.

The estimated equity capital investment for Carlyle's 20 per cent stake in Piramal Pharma would amount to around USD 490 million, it said.

The final amount of equity investment will depend on the net debt, exchange rate and performance against the pre-agreed conditions at the time of closing of the deal, it added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)