SCHOTT Poonawalla invites banks for $400 million IPO in India
Business
SCHOTT Poonawalla, backed by Germany's SCHOTT Pharma and TPG Growth, is gearing up for a $400 million IPO in India.
The company is inviting investment banks to pitch ideas, hoping to tap into the domestic IPO market.
The proposed issue would likely comprise a combination of fresh shares and an offer for sale, which means the Serum Institute of India can further dilute part stake if deemed fit.
SCHOTT Poonawalla dominates injectable packaging market
SCHOTT Poonawalla already dominates over half of India's injectable packaging market, making things like auto-injector cartridges and prefillable syringes.
Backed by strong partners (SCHOTT Pharma owns 50%, TPG Growth 35%), this IPO could help them expand even further.