Private Equity

PE Fund Investments

Warburg sells shares worth Rs.550-Cr in MedPlus ahead of IPO

DealStreetAsia  

Lavender Rose Investment Ltd, a unit of Warburg Pincus, has sold shares worth INR 550 crore in MedPlus Health Services Ltd ahead of its IPO. It sold around 6.9 million shares, or a 6.2% stake, in MedPlus to investors including SBI Mutual Fund, Motilal Oswal Mutual Fund and Malabar India Fund, at INR 796 each (the higher end of the price range set for Medlus' IPO). Post deal, Lavender Rose now has a 24.6% stake in MedPlus. The IPO comprises a fresh issue of INR 600 crore and an offer for sale of up to INR 798 crore by its existing shareholders and promoters. Among selling shareholders, Premji Invest's PI Opportunities Fund seeks to sell shares worth up to INR 623 crore and Natco Pharma plans to sell shares worth INR 10 crore.

From the Venture Intelligence PE-VC Deal Database: Between Mar-07 and Feb-21, MedPlus raised $248.5 M from PremjiInvest, Warburg Pincus, Mount Kellett, IndiaVenture, TVS Capital, Kalaari Capital, Arcapita, Peepul Capital, and others. Most of the investors have made full exits. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)