TPG to acquire 35% stake in SCHOTT Poonawalla from Serum Institute

Global private equity firm TPG is acquiring a 35% stake in Schott Poonawalla from Serum Institute for approximately ₹2,800 crore, valuing the specialty glass manufacturer at ₹8,000 crore. The transaction provides partial exit to Serum Institute, which had acquired Schott Kaisha in 2021 and merged it with its glass business. Schott Poonawalla supplies premium pharmaceutical packaging solutions to global drugmakers and has been expanding its Indian manufacturing capacity. TPG's investment will support the company's ambition to become a leading Asian player in pharmaceutical glass, competing with giants like Corning. The deal includes provisions for a potential IPO within three years, with TPG gaining board representation and joint control over strategic decisions. This investment highlights growing interest in India's pharmaceutical ancillary industries as the country positions itself as a global pharma hub. The transaction structure includes customary warranties and indemnities, with closing expected in Q3 2025 subject to regulatory approvals. Industry experts view this as a validation of India's growing capabilities in high-tech manufacturing for the global healthcare sector.