Medical devices firm Meril to raise $210-M from Warburg Pincus

Vapi, Gujarat-based medical devices maker Micro Life Sciences Pvt Ltd is to raise USD 210 million from Warburg Pincus in return for a significant minority stake. The private equity firm will be investing through its Dutch affiliate, South Elm Investments B.V.. The transaction, which is awaiting CCI approval, is expected to value Meril at USD 1.8 billion. Founded by the Bilakhia family, Meril will use the funds to further expand its business.