Tata Capital Healthcare-backed Linux Laboratories hires Avendus as banker to raise up to $70 million

Key Highlights

• Subscribe now Mumbai: Tata Capital Healthcare Fund-backed Linux Laboratories, which is focused on central nervous system (CNS)-based domestic formulations, has appointed Avendus as an adviser to facilitate a capital raise, two people familiar with the matter said.
• The Chennai-based company aims to raise $50-70 million to fund its expansion plans through organic and inorganic growth, double down on its existing categories and widen its footprint beyond India, the people said on the condition of anonymity.
• The deal is expected soon, they added.
• Avendus and Linux declined to comment on the matter.
• If it goes as planned, this will be the second round of external capital in more than four years after Tata Capital’s healthcare fund invested in the company.