Private equity fund Sabre Partners today said it will pick up stake worth Rs 50 crore in Super Religare Laboratories (SRL) as a pre-IPO placement.
SRL has filed a draft red herring prospectus with market regulator Sebi in February this year for a public issue of up to 2.8 crore equity shares of face value Rs 10 each. It is yet to get a clearance from Sebi.
The company, however did not disclose the stake it would acquire in the diagnostics firm.
Last month Avigo Capital Partners had picked up a 9.27% stake in a pre-IPO placement in SRL for an aggregate amount of around Rs 100 crore.
Speaking on the occasion, SRL CEO Sanjeev Chaudhry said: “We are delighted to have Sabre as an investment partner who we have known for several years”.
SRL is one of then leading diagnostic services companies in India, offering diagnostic testing, preventive care testing and clinical research trial testing.
Last month Fortis Healthcare also received its board approval to acquire the promoters stake in SRL, a move that will bring significant synergy benefits between the group companies Fortis and SRL, it said.
Both Fortis Healthcare and SRL are promoted by billionaire brothers — Malvinder Mohan Singh and Shivinder Mohan Singh.
Source: Business Standard