Sabre Capital, a mid-market private equity firm, has as a part of pre-IPO placement invested Rs. 50 crore for a 4 per cent stake in diagnostics firm Super Religare Laboratories Ltd (SRL)..Trilegal advised Sabre Capital with a team led by Partner Srinivas Parthasarathy along with Associate Zara Kaushik..The Mumbai office of Vaish Associates advised SRL with a team led by Partner Martand Singh along with Senior Associate Yatin Narang..Sabre Capital in a statement said “With this investment, Sabre Partners, through it’s domestic and international ‘Spring Healthcare’ fund will invest an aggregate amount of Rs 50 crore into SRL..SRL has filed a draft red herring prospectus with the market regulator (SEBI) in February this year for a public issue of up to Rs. 2.8 crore equity shares of face value Rs 10 each. It is yet to get a clearance from SEBI..Last month, Avigo Capital Partners had picked up a 9.27 per cent stake in a pre-IPO placement in SRL for an aggregate amount of around Rs. 100 crore, according to ET..In a related development Fortis Healthcare also received board approval to acquire 86 per cent promoters stake in SRL. Both Fortis Healthcare and SRL are promoted by billionaire brothers, Malvinder Mohan Singh and Shivinder Mohan Singh.
