TII, Premji Invest sign share purchase agreement to acquire Lotus Surgicals

TII will acquire 67 per cent, while Premji Invest will acquire the remaining 33 per cent

Tube Investments of India (TII) and Premji Invest (PI) on Saturday signed a share purchase agreement to acquire 100 per cent equity capital of Lotus Surgicals (Lotus) from India Medical Consumables Holdings (a Samara Capital entity) and other shareholders.

TII will acquire 67 per cent, while PI will acquire the remaining 33 per cent, subject to the completion of certain conditions. Currently, Lotus is engaged in the business of wound closure products.

TII will invest up to Rs 233 core and PI will invest up to Rs 115 crore to acquire equity shares from the existing shareholders of Lotus. TII