&w=3840&q=100)
Valuation of Manipal Hospitals hits $13 billion; firm eyes IPO in 2026
Shine Jacob Sohini Das Chennai / Mumbai
Listen to This Article
Bengaluru-headquartered Manipal Hospitals' valuation has jumped by at least $1 billion (over ₹8,000 crore) after the acquisition of Sahyadri Hospitals, reaching around $13 billion (0ver ₹1.1 trillion), according to multiple sources familiar with the development. This marks more than a threefold increase from the $3 billion (around ₹25,000 crore) valuation reported in 2021.
Manipal Hospitals announced late Wednesday that it had acquired Sahyadri Hospitals from the Ontario Teachers' Pension Plan (OTPP), a global investor with net assets of $194 billion. The size of the deal is reportedly over ₹6,000 crore. 'This ₹6,000 crore, plus an upside value of over ₹2,000
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
11 minutes ago
- Time of India
ChrysCapital gets CCI nod to acquire majority stake in bakery chain Theobroma
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Fair trade regulator Competition Commission on Tuesday cleared homegrown private equity major ChrysCapital 's proposal to acquire a majority stake in Mumbai-based bakery chain ChrysCapital is acquiring the stake in Theobroma through its affiliates, Infinity Partners, Aqua Investments Ltd and Atreides Investments BV."The proposed combination relates to the acquisition of certain equity shareholding of Theobroma Foods Pvt Ltd (Theobroma) by Infinity Partners, Aqua Investments Limited and Atreides Investments BV," the Competition Commission of India (CCI) said in a is engaged in the business of manufacturing and sale of bakery and confectionery products, food and beverages through its patisseries and stores present in over 30 cities in India and via its online platform and other online sales channels."CCI approves acquisition of certain equity shareholding of Theobroma Foods Pvt Ltd by Infinity Partners, Aqua Investments Ltd and Atreides Investments BV," the regulator said in a post on to reports, ChrysCapital is set to acquire a 90 per cent stake in Theobroma Foods for an estimated Rs 2,410 signed a deal to acquire a majority stake in Theobroma from its promoters and the current existing investor ICICI Venture , as per reports. However, the founders will retain around 10 per cent holding in the Venture owns nearly a 42 per cent stake in Theobroma. It had invested nearly USD 20 million in was founded in 2004 by sisters Kainaz Messman Harchandrai and Tina Messman beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
The Hindu
11 minutes ago
- The Hindu
4.08 crore LPG connections blocked to curb misuse of subsidy
The Direct Benefit Transfer of LPG (DBTL) of the Centre, under which domestic cooking gas subsidy is paid into the bank account of consumers has helped block, suspend or deactivate 4.08 crore duplicate, fake/non-existent or inactive liquefied petroleum gas connections. The DBTL or PAHAL scheme has played a crucial role in identifying and blocking 'ghost' accounts, multiple accounts, and inactive LPG connections, thus curbing diversion of subsidised LPG for commercial use, Petroleum Minister Hardeep S. Puri said in a written reply to a question in the Rajya Sabha. Sharing details as on July 1, 2025, the Minister said the scheme, whose implementation began in January 2015, has contributed to transparent and effective disbursal of subsidies across the country. Besides the scheme, other initiatives like Aadhaar-based verification, biometric authentication and the weeding out of ineligible or duplicate connections resulted in significantly strengthening the system of transfer of targeted subsidies. All domestic LPG cylinders are sold at non-subsidised prices and the subsidy transferred directly to the respective bank accounts under the DBTL scheme, he said. Common database The government has also introduced a Common LPG Database Platform (CLDP) through which duplicate connections are identified and removed from the database. Deduplication is carried out using Aadhaar number, bank account details, AHL TIN number, ration card details, name, and address as key parameters. Aadhaar-based authentication for DBT schemes enables accurate, real-time and cost-effective identification, authentication and de-duplication of beneficiaries, ensuring targeted delivery of benefits. Public sector oil marketing companies have been advised to undertake and complete biometric Aadhaar authentication of PMUY and PAHAL beneficiaries. As of July 1, biometric Aadhaar authentication has been completed for 67% of Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries. All new PMUY consumers have to undergo biometric authentication before release of connections, a release from the Ministry on Mr .Puri's reply said. Out of a total 33.05 crore active LPG consumers, 92.44% have their Aadhaar seeded in the OMCs' database. 86.78% of the total 30.63 crore DBTL consumers are Aadhaar-transfer compliant. While most subsidy transactions are completed successfully within two days of refill delivery, certain issues have led to transaction failures, including deseeding of Aadhaar from bank accounts, bank mergers, inactive Aadhaar numbers and account closures or transfers. Focused efforts are being made to ensure all consumers become Aadhaar transfer compliant, the Minister added.
Hindustan Times
11 minutes ago
- Hindustan Times
Keystone Realtors records ₹1,068 crore presales in Q1FY26, net profit falls 44%
Mumbai-based real estate developer Keystone Realtors Ltd, also known as Rustomjee Group, reported its highest-ever quarterly pre-sales of ₹1,068 crore in Q1FY26, up 75% year-on-year. However, its consolidated net profit fell 44% to ₹14.51 crore from ₹25.82 crore in the same quarter last year. Mumbai-based Rustomjee Group, also known as Keystone Realtors, said it operates across a wide spectrum of housing segments and is confident of continuing as a dominant developer and a preferred partner in redevelopment projects (Picture for representational purposes only)(Rustomjee Group) Total income dropped to ₹288.64 crore in Q1FY26 from ₹437.20 crore a year ago. "Our company's net debt is zero, gross debt is above ₹300 crore, we have launched several large-scale projects, and have a good pipeline. Our credit rating has improved from A to A+. The income and profit declined as it was not able to recognise revenue because of the project completion method. For new projects, the company is shifting to the percentage of completion method for recognising the revenue as this would 'reflect a true picture' of the company's financial performance," Boman Irani, CMD, Keystone Realtors, said. Also Read: Mumbai real estate: Redevelopment is here to stay for more than 20 years, says Boman Irani of Keystone Realtors The company has completed 37 projects while it is constructing 18 projects, mostly in Mumbai Metropolitan Region (MMR). The company has delivered over 26 million square feet of construction area, with a pipeline of more than 47 million square feet of construction area in the works. Also Read: Rustomjee Group to redevelop eight housing societies in Mumbai's Andheri West, eyes ₹3,000 crore in revenue Outlook According to the company, the Mumbai Metropolitan Region (MMR) real estate market is on a strong growth path, offering significant opportunities. With a focus on redevelopment, regional expansion, and its competitive strengths, the company said it is well-positioned for sustained success. Also Read: Rustomjee Group adds three redevelopment projects worth ₹7,727 crore to its Mumbai portfolio "Our asset-light business model, effective stakeholder management, customer-centric approach, technological advancements, reliable vendor relationships, and experienced leadership team will continue to drive growth and deliver exceptional value. Keystone operates across a wide spectrum of housing segments and is confident of continuing as a dominant developer and a preferred partner in (re)development projects," the company said in a statement.
