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Temasek Holdings and Abu Dhabi Investment Authority (ADIA) are planning to invest approximately USD 300 million in Micro Life Sciences, a Warburg Pincus-backed healthtech firm, ahead of its initial public offering. The investment will be made through a combination of primary and secondary share sales, valuing the company at over USD 1.8 billion. Micro Life Sciences, a part of the Gujarat-based Bialkha Group, operates in diverse segments of the medical devices and consumables market, with a strong presence in India and overseas.
Warburg Pincus-backed Micro Life Sciences Pvt Ltd is preparing to raise capital ahead of its proposed initial public offering (IPO), with fresh funding coming from Singapore's Temasek Holdings and the Abu Dhabi Investment Authority (ADIA). The upcoming investment round is estimated to bring in around USD 250-300 million. Advertisement
This capital raise, split between primary and secondary share sales, is expected to give the company a post-money valuation of more than USD 1.8 billion. Over the past 12-18 months, Micro Life has attracted significant investor interest and has been in discussions with over 40 funds, according to those familiar with the matter.
The Mumbai-headquartered firm, which is eyeing a listing in the near term, has appointed investment banks Citi, Jefferies, and Morgan Stanley to manage the IPO process.
Micro Life Sciences operates under the umbrella of the Gujarat-based Bialkha Group, which was established by Gufic Bilakhia. The group's healthcare ventures are now led by his three sons Yash, Jainam, and Akbar Bilakhia.
The company has made strategic investments in the medical device ecosystem, which includes manufacturing vascular interventions, intra-cranial therapies, and drug-coated stents. These technologies are supported by in-house R&D as well as acquisitions.
Warburg Pincus had invested USD 210 million into Micro Life around two years ago, picking up a 33% stake at a valuation of roughly USD 650 million at the time. With the fresh funding from Temasek and ADIA, the company's valuation has more than doubled, signalling strong investor confidence in the sector.
Micro Life's revenue for the financial year ended in March was around INR 1,000 crore, with expectations to surpass INR 1,300 crore in the current financial year.
The company currently employs around 8,000 people, with a strong global footprint that includes eight manufacturing plants in India. Through its subsidiary, Meril Life Sciences, the company has introduced high-end products such as coronary stents, peripheral stents, transcatheter aortic valves, and surgical staplers. Meril also holds the distinction of being the first Indian company to manufacture and commercialise a TAVR device.
Meril's products are exported to over 100 countries, with a dominant presence in Latin America, Southeast Asia, Europe, and the Middle East. Some of its major export markets include Brazil, Russia, South Korea, Australia, China, and the UK.
With a diversified product line, strong R&D infrastructure, and an expanding global reach, the company is well-positioned for a robust IPO performance. As the demand for high-quality, affordable healthcare devices rises globally, Indian firms like Micro Life are emerging as serious contenders on the international stage.
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