Samara Capital exits its entire controlling stake in Lotus Surgicals
Mumbai, 11 May 2023 - Samara Capital Group, a leading mid-market buyout focussed fundannounced today that it had completed the sale of its entire controlling stake in Lotus Surgicals Private
Limited (Lotus) to a JV formed by Tube Investments of India Limited (TII) and Premji Invest (PI).
Lotus offers a comprehensive product portfolio comprising medical and surgical sutures, meshes,endoscopic, open & skin staplers, laparoscopic surgical instrument, and energy devices, used for highend specialties such as cardiology, liver transplants, GI oncology and bariatrics. It delivers superior
quality products through its state-of-the-art manufacturing facility in Dehradun equipped with Class
10,000 infrastructure, stringent quality control norms and automated packaging capabilities. Lotus has
an extensive distribution network with 800+ dealers and has a pan-India reach to over 12,500
hospitals. Lotus has also rapidly expanded its presence in the global markets and exports to 35+
countries.
The deal provides a complete exit to Samara Capital and its founder, Mehernosh Daruwalla and hisfamily. The acquisition is the first step for the JV set-up by TII and PI to initiate a med-tech platform
partnership. The platform aims to scale-up via a mix of organic and inorganic initiatives.
“We acquired a controlling stake in Lotus Surgicals at an early stage of its evolution to unlock the highpotential of surgical consumables / devices sub-sector. We are happy to state that during ourinvestment period we were able to realise the true potential of the Company and put it on a strong
footing to emerge as a leading Indian medical consumables / devices player. Lotus has grown from asurgical suture centric company to a leading company in the entire wound closure segment withmultiple product offerings including the most advanced stapling products. During our investment
tenure, overall sales and profitability has grown almost 5-fold.
Lotus is being led by a competent team of professionals, has best-in-class technology, operations andsystems and has been completely institutionalized to achieve much higher scale in times to come. We
wish the new leadership team of Tube Investments of India Limited and Premji Invest all the very bestin their journey ahead with the Company“, said Manish Mehta and Abhishek Kabra, Managing
Directors of Samara Capital.
O3 Capital was the financial advisor, Stratage Law Partners was the legal advisor and PWC was the Taxadvisor to Lotus and Samara Capital.

About Samara Capital
Samara Capital is one of India’s leading mid-market private equity firms with strong operating
capabilities. Samara invests in Emerging Indian Companies (EICs), businesses that have the potential
for rapid growth and transformation. Samara Capital values the importance of building trust in all theirbusiness relationships with emphasis on medium to long term value creation, nimbleness, agility whilerunning the businesses that they invest in. Key sectors of interest are consumer/retail;healthcare/pharma; financial services & business services/technology. Further information is available
at https://samaracapital.com