Shukra Pharma signed a Term Sheet with Singapore’s Borns Medical Robotics to build AI surgical robotic systems for India and APAC.

The proposed venture will cover the design, manufacture, distribution and servicing of these robotic systems across India and the wider Asia-Pacific region.

The Term Sheet was executed on 13 August. Under the proposed structure, the joint venture entity will be called B&S Robotics Private Limited.

Shukra plans to hold 60% of this entity, while Borns Singapore will hold the remaining 40%. Each partner brings something different to the table.

Shukra is expected to contribute capital along with its existing sales and distribution network, market-development capabilities and financing support.

Borns, on its side, will bring its technology platform, surgical robotic systems and manufacturing know-how. This is still an early-stage agreement though.

The Term Sheet is largely non-binding, apart from a few specific clauses around confidentiality and exclusivity, and it doesn’t commit either party to completing the transaction.

The actual terms will be worked out through separate definitive agreements, including a Shareholders’ Agreement and various licensing and supply arrangements.

The two sides have set a rough target of around 120 days from the Term Sheet’s execution to finalise these long-form agreements, though that depends on several conditions being met first, including regulatory approvals and due diligence. There’s a longer-term goal attached too.

The filing notes that, subject to hitting agreed milestones and getting regulatory clearance, the parties may eventually pursue a demerger and separate listing of the joint venture entity on the BSE and NSE.

The company has been clear that this listing plan is a strategic aim, not a guaranteed outcome.

For Shukra, a company built around pharmaceuticals, this marks a fresh push into surgical robotics.

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