Peepul plans to bring in a strategic investor, while its first option is to exit its investment in the diagnostics services specialist to another private equity fund, according to the Business Standard.
Since the buyout the company has expanded by buying a 91 per cent interest in Clumax Diagnostics and Research Centre in 2010.
Peepul Capital, which currently has $700m under management across its three funds., usually invests between $15m and $25m.
In November last year it was reported that Peepul invested in herbal cosmetics business Banjara’s from its $320m iLabs Investment Fund III.
Around the same time the firm put $13m into lingerie company Brandis Manufacturing and Marketing.
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