“American private equity firm TPG has acquired a significant minority stake in Sai Life Sciences, a drug discovery, development and manufacturing service provider,” reported Mint.

Shardul Amarchand Mangaldas managing partner Akshay Chudasama, principal associate Sayak Maity and senior associate Ankit Mishra acted for TPG with due diligence assistance from senior associate Aditi Tralshawala and associates Payal Chhabria and Neha Shaw.

Cyril Amarchand Mangaldas acted for Sai Lifesciences, led by Bangalore-based partners Arjun Lall and Nagavalli G.

Update 2 August 2018: PDS Legal acted for existing investor HBM Private Equity in relation to the transaction documentation, led by partner Vihang Virkar and director Ayesha Rai.