Romsons Group secures Temasek investment, company valued at about $500 million
Business
Romsons Group, a major Indian medical device maker, just landed an investment from Singapore's Temasek.
Announced today, this move is set to boost Romsons's global reach and strengthen its spot in the market.
Mint first reported in October that Temasek was seeking a minority stake valuing the company at about $500 million.
Romsons eyes IPO, funds for development
The fresh funds will go into developing new products, upgrading manufacturing technology, and improving how things run behind the scenes.
Romsons is also eyeing an initial public offering, or IPO, down the line if conditions are right and might team up or acquire other companies, both in India and abroad, to keep growing in the healthcare and medical devices business.