Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jul, 07 2018

TPG to acquire 40% stake in Sai Life for Rs 900 cr

TPG will seal the deal through secondary share purchase from existing investor Tata Capital, followed by a primary infusion into the two-decade-old company.

TPG to acquire 40% stake in Sai Life for Rs 900 cr

TPG has pipped rival private equity investors to acquire a stake of slightly over 40% in Sai Life Sciences a Hyderabad-based provider of drug discovery, development and manufacturing services for around $135 million, or Rs 900 crore, people directly aware of the matter said.

TPG will seal the deal through secondary share purchase from existing investor Tata Capital, followed by a primary infusion into the two-decade-old company. The global investor is expected to snap up about 35% held by Tata for around $100 million, or Rs 650 crore.

A fund managed by Tata Capital had invested Rs 185 crore in Sai Life in 2014, making the latest deal a highly profitable exit for the Tata fund. TOI reported that TPG was vying with Carlyle for a potential investment in Sai Life Sciences in its June 15 edition. The company works with innovator pharma and biotech clients on drug discovery and commercial manufacturing services.

Sai Life Sciences is targeting a $250-million revenue by 2025 and is facilitating launch of 25 new drugs by innovator pharma companies. It has USFDA-certified manufacturing facilities in Hyderabad and at Bidar in Karnataka.

It is understood TPG, True North and Carlyle were the final bidders, while Temasek dropped out earlier.

Founded in 1999, Sai Life also makes key active pharmaceutical ingredients (APIs) used in formulations, tablets and syrups. The rapid growth in innovative technologies is spurring the demand for generic drugs, which in turn is boosting the API market to grow at a double-digit rate globally.

Also, an environmental disruption in China has led to a massive increase — as high as 120% in certain cases — in prices of APIs over June last year across therapies, including anti-diabetic, cardiovascular, central nervous system, vitamins and antibiotics.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Bakery & Confectionary
    About Us: Bake O Cake is a bakery and confectionery shop,..
    Locations looking for expansion West bengal
    Establishment year 2015
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater kolkata West bengal
  • Laundry & Dry Cleaning
    About Us: ChemDry –It’s an international brand for providing Cleaner &..
    Locations looking for expansion Delhi
    Establishment year 1979
    Franchising Launch Date 1982
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Pathological Labs
    About Us: We offer Pathology benefits that utilization front line innovation..
    Locations looking for expansion New Delhi
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Bakery & Confectionary
    About Us: tylish & quaint, Sassy Teaspoon is the quintessential go-to..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities