Manipal Hospitals to get Rs 2100 crore from NIIFL
This investment marks the fund's first investment in the Indian healthcare sector and will support Manipal Hospitals' journey of growth to become one of India's largest hospital chains, NIIFL and Manipal Hospitals said in a joint statement.;
New Delhi: The National Investment & Infrastructure Fund Ltd (NIIFL) on Thursday announced an investment of Rs 2,100 crore in Manipal Hospitals, through its direct private equity fund, Strategic Opportunities Fund, as the healthcare provider pursues its next phase of growth.
For the investment, NIIFL will get a minority stake in Manipal Hospitals as Chairman of Manipal Education and Medical Group Ranjan Pai is selling a small percentage of his stake in the company, a spokesperson of the hospital chain told PTI.
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This investment marks the fund's first investment in the Indian healthcare sector and will support Manipal Hospitals' journey of growth to become one of India's largest hospital chains, NIIFL and Manipal Hospitals said in a joint statement.
The transaction has been signed by both parties and the closing of the transaction is subject to receipt of certain approvals, it added.
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