Bengaluru’s Sutures India may launch Rs. 1,500 crore IPO, PEs to monetise stakes
By Nikita Singh |
5/19/2017 10:00 AM Friday
Bengaluru-headquartered surgical threads maker, Sutures India, is likely to come up with Rs 1,500 crore worth Initial Public Offering, according to related market sources.
According to the referred sources, the company is valued at Rs 5,000 crore and the IPO is not likely to issue fresh shares, mostly enabling the existing private equity investors to monetise their shareholdings.
The company is said to be seeking advisory over the IPO from top financial companies including Axis Capital, Kotak Mahindra Capital, JM Financial and Nomura.
TPG Growth, the middle market and growth equity subsidiary of the global private investment firm TPG, is the largest stakeholder in the Sutures India, while the Delhi-based CX Partners also owns stakes in the company.
Sutures India produces both absorbable and non-absorbable sutures besides producing surgical meshes, skin staplers and other medical equipment and accessories. The company has five manufacturing units in India and exports to over 91 countries across the globe.
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