Mumbai-based Micro Life Sciences Pvt Ltd is preparing to raise $250–300 million in fresh capital ahead of its planned initial public offering (IPO), with investments led by Singapore’s Temasek Holdings and the Abu Dhabi Investment Authority (ADIA). The fundraise, comprising both primary and secondary share sales, is expected to push the company’s valuation beyond $1.8 billion.
This round marks a significant step in the company’s journey toward listing, following rising investor interest and recent operational growth.
Warburg-backed firm doubles valuation in two years
The life sciences firm, backed by private equity giant Warburg Pincus, last raised $210 million approximately two years ago, when Warburg picked up a 33% stake at a $650 million valuation. The latest investment indicates a near tripling of the company’s value, underscoring strong investor confidence in India’s medical technology sector.
Micro Life Sciences operates under the Gujarat-based Bilakhia Group, founded by Gufic Bilakhia. Today, the group’s healthcare interests are led by Yash, Jainam, and Akbar Bilakhia, who have steered the company through key investments in advanced medical devices and technologies.
IPO plans and strong global expansion
The company has appointed Citi, Jefferies, and Morgan Stanley as investment bankers for its IPO. Micro Life’s revenue reached ₹1,000 crore in FY24, with projections to cross ₹1,300 crore in the current fiscal year. The firm employs around 8,000 people and operates eight manufacturing facilities across India.
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Through its subsidiary Meril Life Sciences, Micro Life has developed and commercialised a diverse range of high-end medical devices, including coronary and peripheral stents, surgical staplers, and transcatheter aortic valve replacement (TAVR) devices. Meril became the first Indian company to develop and market a TAVR device—placing the firm among leading innovators in the space.
Export leadership and global footprint
Meril’s products are exported to over 100 countries, with strong distribution networks across Latin America, Southeast Asia, the Middle East, and Europe. Notable markets include Brazil, Russia, South Korea, Australia, China, and the UK.
The upcoming funding round and eventual IPO are expected to further boost the company’s international ambitions, especially as demand for high-quality, cost-effective medical devices continues to rise globally. With in-house R&D, strategic acquisitions, and expanding market share, Micro Life Sciences is positioning itself as a key global player in the medtech space.
