Global private equity funds, including Bain Capital, KKR, and Advent International, are in talks to buy Sai Life Sciences at a valuation of $600-700 million, three people aware of the development said. Sai Life Sciences is a Hyderabad-based pharmaceutical contract research and development, and manufacturing (CRDMO) firm.
PE firm TPG Capital, which had invested about $135 million (900 crore) in 2018, currently owns 43.4% stake in the company.
The first round of bids came in November, and the three funds are in further discussions.
"KKR, Advent, and Bain are currently carrying out due diligence, and are likely to submit final binding bids next month," the first person cited above said.
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