TPG Growth Invests INR1.5 Billion in Sutures India (Asia)
Source: VCCircle | Authors: Lohit Jagwani, Madhav A Chanchani
TPG Growth, the middle market and growth equity platform of global private investment firm TPG, has acquired a 25 percent stake in India-based surgical sutures manufacturer Sutures India for INR1.5 billion (approximately US$23.5 million). The transaction involved a mix of primary and secondary share purchases, with around INR750 million (approximately US$11.8 million) of the total investment used to purchase shares from the company’s promoters. Sutures India had previously raised capital in 2009 from life science-focused private equity investor Evolvence India Life Science Fund, which sold its stake to India-focused investment advisor CX Partners last year.