Warburg Pincus is planning to invest Rs 1,500 crore in MedPlus, India's second-largest pharmacy retailer.
Funds raised would be a mix of debt and equity from which a chunk will be used to pay off existing lenders such as Goldman Sachs and Edelweiss and also offer liquidity to smaller shareholders of the company.
MedPlus founder and CEO Madhukar
Gangadi, a Wharton graduate, will continue to run the business releasing his share pledges with the investments. The final documentation is still in progress and is expected to get signed this coming week.