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Temasek, the private equity (PE) arm of the Singapore government, is the front runner to acquire significant minority stake in Tynor Orthotics, a Mohali, Punjab-based medical equipment maker, according to three people with knowledge of the development.
The manufacturer and exporter of orthopaedic and fracture aids, which is backed by consumer-focused PE firm Lighthouse Funds, is being valued at ₹3,000 crore, three people with knowledge of the development said.
“The final bids have come in and Temasek is the front runner,” the first person cited above said on condition of anonymity, adding that the other bidders who made it to the final round include global PE firms Warburg Pincus and Norwest Venture Partners.
The person further said that Temasek has bid for an up to 30-35% stake in the company for $100-120 million ( ₹850-900 crore).
