Synopsis
The investment, made through its NIIF Strategic Opportunities Fund (SOF), the direct private equity fund of NIIF, marks SOF’s first investment in the Indian healthcare sector.
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Manipal Hospitals, headquartered in Bengaluru, has a major presence across India with 15 hospitals and a key focus on tertiary and quaternary care.
India s quasi sovereign wealth fund - National Investment and Infrastructure Fund Limited (NIIFL) has invested Rs 2,100 crore in Manipal Hospitals, one of India’s largest multi-speciality healthcare provider.
The investment, made through its NIIF Strategic Opportunities Fund (SOF), the direct private equity fund of NIIF, marks SOF’s first investment in the Indian healthcare sector.
National Investment and Infrastructure Fund Limited (NIIFL) has announced an investment of ₹2,100 crore in Manipal Hospitals, a multi-speciality healthcare provider, through its NIIF Strategic Opportu
NIIFL to invest ₹2,100 cr in Manipal Hospitals
A file photo of Manipal Hospitals, Bengaluru
(Photo: ANI)Premium
. Updated: 01 Apr 2021, 07:32 PM IST PTI
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
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NEW DELHI :
The National Investment & Infrastructure Fund Ltd (NIIFL) on Thursday announced an investment of ₹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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National Investment and Infrastructure Fund Ltd. (NIIF) on Thursday announced an investment of ₹2,100 crore in Bengaluru-based Manipal Hospitals through its Strategic Opportunities Fund (SOF).
“Through this investment, we look forward to playing a role in serving the healthcare needs of India,” said Sujoy Bose, MD and CEO, NIIF.
“The strong governance, processes and track record of Manipal Hospitals resonate well with NIIF’s investment philosophy.’’
Manipal Hospitals, which has 15 multi-speciality hospitals in the country, focuses on tertiary and quaternary care. The recent announcement of its acquisition of Columbia Asia Hospitals is expected to augment its expansion activities, as per a statement.