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April saw unprecedented dealmaking for Indian tech startups, as eight companies joined the coveted unicorn club in around 20 days. After a few slow weeks, deal activity has picked up pace again. We reported about big financing rounds at
Lenskart and
Pine Labs on Monday. And now there’s a new entrant to the unicorn club the first one in May.
We kick off with a scoop on India’s sovereign wealth fund’s first digital investment.
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Ranjan Pai: Building a healthcare empire


UPDATE:
On April 30, Manipal Hospitals announced that it had completed the acquisition of Columbia Asia Hospitals.]
In the summer of 2020, Ranjan Pai was fighting two battles. On one hand, the chairman of Manipal Education and Medical Group (MEMG) was trying to limit the effects of a national lockdown on his hospital chain, Manipal Hospitals. On the other, the 48-year-old billionaire entrepreneur was trying to salvage a big-ticket acquisition that would kickstart his long-held dream of a pan-India hospital chain.
Then in November, Bengaluru-based Manipal Health Enterprises Private Limited (MHEPL), which runs Manipal Hospitals, announced it would buy Columbia Asia Hospitals in India for about ₹2,200 crore in cash. That will give the predominantly south India-focussed MHEPL a presence in cities such as Kolkata, Gurugram, Ghaziabad, Patiala, and Pune. The combined entity will operate 7,300 beds in 27 hospitals across 15 cities, making it India’s second-largest hospita ....

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NIIFL invests ₹2,100 cr in Manipal Hospitals


NIIFL invests ₹2,100 cr in Manipal Hospitals
The funding comes close on the heels of billionaire entrepreneur Ranjan Pai-led Manipal Hospitals acquiring Columbia Asia Hospitals in India for ₹2,100 crore last November.
Image: Narendra Bisht
India’s sovereign wealth fund, the National Investment and Infrastructure Fund Limited (NIIFL), on Thursday said that it has invested ₹2,100 crore in Bengaluru-headquartered Manipal Hospitals through its private equity fund NIIF Strategic Opportunities Fund (SOF), its first investment in the Indian healthcare sector.
The deal comes close on the heels of billionaire entrepreneur Ranjan Pai-led Manipal Hospitals acquiring Columbia Asia Hospitals in India for ₹2,100 crore last November, making it the country’s second-largest hospital chain after Chennai-based Apollo Hospitals. ....

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