Strategic Advice on TPG's $300 Million Investment in SCHOTT Poonawalla by AZB and JSA
**TPG Acquires Significant Stake in SCHOTT Poonawalla**
In a strategic move that strengthens SCHOTT Poonawalla's position in pharmaceutical packaging innovation and production in India, global alternative asset firm TPG has acquired a 35% stake in the joint venture between SCHOTT Pharma and Serum Institute of India (SII). The deal, valued at around $300 million, was facilitated by TPG's healthcare investment expertise and will bolster SCHOTT Poonawalla's long-term global growth ambitions.
The transaction, reached in mid-2025, sees TPG acquiring the stake directly from SII. SCHOTT Pharma retains a majority 50% ownership, while SII holds a minority stake post-transaction. This partnership aims to accelerate innovation and production capabilities in pharmaceutical packaging in India, supporting the joint venture’s growth and market leadership in injectable drug containment solutions.
Legal advisors AZB & Partners and JSA Advocates & Solicitors played crucial roles in the complex deal. AZB & Partners advised TPG on the intricacies of acquiring a significant minority stake in a joint venture within the pharmaceutical packaging sector in India. JSA Advocates & Solicitors, though the specific role is not detailed, likely provided local regulatory or transactional support, complementing AZB & Partners' lead advisory role.
For TPG, this investment represents a strategic entry into India's pharmaceutical manufacturing sector. SCHOTT Poonawalla designs advanced drug containment and delivery solutions for pharmaceutical and biotechnology customers. The company, a joint venture between SCHOTT Pharma and the Serum Institute of India, part of the Cyrus Poonawalla Group, offers an industry-leading reputation by providing a comprehensive product portfolio of the highest quality for over two decades.
Adar Poonawalla, CEO of the Serum Institute of India, commented that partnering with TPG marks an important step for them. Their experience in healthcare investing and global network makes them a strong partner as they scale and explore new opportunities.
The due diligence team for TPG included several partners and associates, while the AZB & Partners team advising TPG was led by senior partner Nandish Vyas. JSA's transaction team was led by national corporate lead Iqbal Khan, and AZB's team representing SCHOTT Pharma was led by senior partner Daksh Trivedi.
In addition to TPG Growth and Novo Holdings, the transaction will see these entities co-invest in SII's stake in the joint venture. The deal's legal complexities were navigated by competition law experts within the advisory teams, ensuring compliance with regulations throughout the process.
This strategic investment by TPG into SCHOTT Poonawalla is set to revolutionise the pharmaceutical packaging sector in India, driving innovation, growth, and market leadership for the joint venture.
In this deal, TPG's financial investment in SCHOTT Poonawalla, a strategic move in India's pharmaceutical manufacturing sector, is regulated by local and international business laws,, ensuring compliance with competition laws. The partnership between TPG and SCHOTT Poonawalla aims to accelerate business growth and market leadership in the pharmaceutical packaging sector.
