AIG Hospitals Sees 2,500cr Interest
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Novo Holdings, Axight, and GIC are in advanced talks to invest ₹2,000-2,500 crore in Hyderabad-based AIG Hospitals.
- ✓EQT plans a fund-to-fund transfer of its investment, involving a 10-12% stake dilution.
- ✓Promoters Duvvur Nageshwar Reddy and Penmetsa Venkata Subbaraju will continue to run the company as they seek new strategic partners.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Novo Holdings, controlling shareholder of Danish drugmaker Novo Nordisk, Abu Dhabi's Axight and sovereign wealth fund GIC of Singapore are in advanced discussions with EQT to invest ₹2,000-2,500 crore in AIG Hospitals, a multi-speciality chain based in Hyderabad, said people with knowledge of the matter. Swedish buyout group EQT plans a fund-to-fund transfer of its four-year old investment, they said.
The investor interest comes amid private equity firms, including Blackstone and KKR, acquiring stakes in Indian hospitals, replicating a strategy they have followed in other countries for decades.
The sale plan is led by the chain's promoters, chairman and MD Duvvur Nageshwar Reddy and vice-chair Penmetsa Venkata Subbaraju. It will involve 10-12% dilution of their shares at a valuation ₹22,000-24,000 crore ($2.29-2.5 billion).
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Economic Times
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