JSA advised TBO Korea Holdings Limited and Augusta Investments Zero Pte. Ltd. (collectively, “Affirma Capital“) in the sale of its minority stake in Tirupati MedicareLimited (“Target”) to Kotak Strategic Situations Fund II and Kotak Alternate Asset Managers Limited (collectively, “Buyers”) for a consideration of (approximately) INR 1050 Crore.
The deal also involved infusion of capital by the Buyers in lieu of debentures issued by the Target, and acquisition of shares by the Buyers from the promoters of the Target. The Target (along with its group companies) is in the business of contract manufacturing and production of pharmaceutical, nutraceuticals, ayurvedic products.
JSA had previously advised Affirma Capital (previously, Standard Chartered Private Equity Managers Korea Limited) in its acquisition of shares of the Target.
Deal Value – USD 122.6 Million
Signing Date – 12th February 2025.
Media Coverage – The Economic Times
Prakriti specialises in mergers & cross border investments & acquisitions and private equity transactions. Her experience includes rendering advisory and structuring services on a variety of transactions including acquisitions of shares & business, private equity investments, joint ventures and corporate advisory.