PE Fund Investments
Kotak pre-IPO fund acquires 6% in cardiac stents maker SMT for Rs.170-Cr
Kotak Pre-IPO Opportunities Fund, a late-stage alternative investment fund (AIF), has acquired a 6% stake in cardiac stents maker Sahajanand Medical Technologies (SMT) for INR 170 crore, valuing the company at INR 2,800-3,000 crore. SMT was founded by Dhirajlal Kotadia in 2001 with the target of reducing the cost of complex and lifesaving medical devices. SMT claims to be the largest Drug Eluting Stent (DES) player in India with 31% market share. Over the last five years, the company has expanded to 69 countries with direct operations in 10 countries.
From the Venture Intelligence PE-VC Deal Database: In Jan-18, Samara Capital and Morgan Stanley PE had invested USD 36 million in SMT. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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