Ahmedabad, July 21 -- The Abu Dhabi Investment Authority (ADIA) has signed definitive agreements to invest USD 200 million (approximately Rs 1,723 crore) in Meril, a leading medical devices manufacturer based in Gujarat.

This strategic investment will give ADIA nearly a 3 per cent stake in Meril and values the company at around USD 6.6 billion (Rs 56,859 crore). The deal is subject to regulatory clearance from the Competition Commission of India (CCI).

This marks ADIA's latest move into India's growing medical devices manufacturing sector. Once the transaction is complete, Meril will have the backing of two major global investors-ADIA and private equity firm Warburg Pincus, which had previously invested in the company.

Founded by the B...