Kotak Strategic Situations India Fund II and Kotak Alternate Asset Managers Limited have made a ₹1,050 crore investment in Tirupati Medicare Limited.
IndusLaw represented Tirupati Medicare on this investment deal.
The transaction team consisted of Shantanu Jindel (Partner), Shweta Gupta (Partner), Mandvi Singh (Senior Associate), Harshit Kumar (Senior Associate), Vatsal Agarwal (Associate) and Abhinav (Associate).
JSA advised TBO Korea Holdings Limited and Augusta Investments Zero Pte. Ltd. (collectively, "Affirma Capital") in the sale of its minority stake in Tirupati Medicare to Kotak.
The transaction team consisted of Sidharrth Shankar (Lead Partner), Prakriti Jaiswal (Partner), Aditya Vardhan Dayal (Principal Associate) and Pranav Rao N (Associate).
Quillon Partners also advised on this transaction.
This investment will support Tirupati's expansion plans and is likely to facilitate a complete exit for Affirma Capital, which had been a significant minority shareholder since its ₹350 crore investment in 2019.
Founded in 2005, Tirupati Medicare is one of the largest and fastest growing company with pioneers in providing end-to-end solutions from research to product launch, with multiple state-of-the-art manufacturing facilities. The group is highly diversified, catering to a variety of broad segments like Pharmaceuticals, Nutraceuticals, Ayurveda, Veterinary, Probiotics and a niche segment like Sports Nutrition.
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