Latest news with #ManipalHospitals
Time of India
15-07-2025
- Business
- Time of India
Manipal Hospitals borrows Rs 5,300 crore from global banks to fund Sahyadri acquisition
Mumbai: Manipal Hospitals , part of Mangalore-based Manipal Education and Medical Group (MEMG), is borrowing nearly ₹5,300 crore from five foreign banks to fund its acquisition of Sahyadri Hospitals , four people familiar with the plans said. The banks comprising European lenders Deutsche Bank and Barclays , Japan's Mitsubishi UFG Financial Group (MUFG) and Sumitomo Mitsui Banking Corp (SMBC), and Singapore's DBS Bank have agreed to provide the debt funding for the acquisition, the people said. "The total deal size is around ₹5,900 crore, 90% of which is funded by debt raised from these foreign banks. The rest 10% has to be paid next fiscal year," one of the persons said. "The debt is being funded by bonds issued by Manipal, maturing in two years at a yield of around 9.5%." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 새로운 재테크 찾는다면 '코인재테크' 시작하세요 나우투자그룹 더 알아보기 Undo Last week, Temasek-backed Manipal Hospitals signed an agreement to acquire Pune-based Sahyadri Hospitals from Ontario Teachers' Pension Plan (OTPP). The acquisition will make Manipal the largest private sector hospital chain in India, giving it 11 new hospitals across Pune, Nashik, Ahilya Nagar and Karad. Its total network will increase to 49 hospitals with bed capacity of 12,000. "The banks will invest in these bonds through the foreign portfolio investment (FPI) route since the funds are raised to fund a foreign-owned company, and Reserve Bank of India (RBI) rules do not permit banks to lend onshore for mergers and acquisitions," said a second person aware of the details. Live Events Barclays and MUFG declined to comment, while spokespersons for Deutsche and SMBC did not reply to emails seeking comment. "As a matter of principle, DBS Bank does not comment on specific transactions," said a spokesperson for DBS. FPI entities floated by these banks, most likely based out of Singapore, will subscribe to these bonds. Manipal will redeem these bonds in the next two years from the proceeds of its planned initial public offering (IPO). Singapore's $339 billion Temasek , one of the world's largest sovereign funds, owns 59% of Manipal Hospitals with promoter Ranjan Pai & family owning 30% and private equity investor TPG holding a 11% stake. An IPO is planned for 2026. A Manipal spokesperson did not reply to ET's email seeking comment. Foreign banks usually fund M&A deals in India through their overseas arms to tide over regulations in the country. The banks usually hold these bond investments to maturity showing them in the investment book in India. All five banks mentioned above have agreed to fund this deal with covenants signed on Monday, the people cited above said.
Time of India
15-07-2025
- Business
- Time of India
Temasek eyes more Indian family-run businesses after Haldiram's deal
By Dhwani Pandya Singapore's state investor Temasek is looking to invest more in Indian family-run businesses , a top executive said on Monday, months after it invested $1 billion in a popular domestic snacks company. Family businesses in India, with their multigenerational legacies, strong domestic brands and loyal customers, have become attractive for global investors in recent years. In March, Temasek bought a 10% stake in Haldiram's at a valuation of around $10 billion, with sources describing it as a "prized asset" that will help investors expand its focus on India's consumer sector. "We've been very active in investing behind family-run businesses, we can invest across the value chain," Vishesh Shrivastav, managing director of Temasek's India investment team, said in an interview at its Mumbai office. Temasek has earlier invested in many businesses in India which were once run by business families, such as Manipal Hospitals and Dr Agarwal's Health Care. In a separate factsheet, Temasek said it was "keen to partner more family-owned businesses to drive long-term value creation." It did not name any potential targets. Temasek spent $2 billion in April 2023 to raise its stake in Manipal to 59% from 18% in the biggest hospital sector deal ever in India. It later sold a minority stake to Novo Nordisk's parent Novo Holdings and Abu Dhabi's sovereign investor Mubadala, but retained majority control of the hospital chain. Asked about Manipal Hospitals possible public offering, Shrivastav said it was "an eminently listable company," without elaborating. India continues to be Temasek's best-performing market over the last decade, as it remained the world's fastest-growing major economy and the second largest IPO market in 2025. Temasek said it maintained its positive outlook for India and its 2023 goal of investing up to $10 billion in Asia's third-largest economy over a three-year horizon. Temasek invested over $3 billion in India over the past year.
Economic Times
14-07-2025
- Business
- Economic Times
Temasek eyes more Indian family-run businesses after Haldiram's deal
Reuters A Temasek signage is pictured at their annual Temasek Review in Singapore July 11, 2023. REUTERS/Edgar Su Singapore's state investor Temasek is looking to invest more in Indian family-run businesses, a top executive said on Monday, months after it invested $1 billion in a popular domestic snacks company. Family businesses in India, with their multigenerational legacies, strong domestic brands and loyal customers, have become attractive for global investors in recent years. In March, Temasek bought a 10% stake in Haldiram's at a valuation of around $10 billion, with sources describing it as a "prized asset" that will help investors expand its focus on India's consumer sector. "We've been very active in investing behind family-run businesses, we can invest across the value chain," Vishesh Shrivastav, managing director of Temasek's India investment team, said in an interview at its Mumbai office. Temasek has earlier invested in many businesses in India which were once run by business families, such as Manipal Hospitals and Dr Agarwal's Health Care. In a separate factsheet, Temasek said it was "keen to partner more family-owned businesses to drive long-term value creation." It did not name any potential targets. Temasek spent $2 billion in April 2023 to raise its stake in Manipal to 59% from 18% in the biggest hospital sector deal ever in India. It later sold a minority stake to Novo Nordisk's parent Novo Holdings and Abu Dhabi's sovereign investor Mubadala, but retained majority control of the hospital chain. Asked about Manipal Hospitals possible public offering, Shrivastav said it was "an eminently listable company," without elaborating. India continues to be Temasek's best-performing market over the last decade, as it remained the world's fastest-growing major economy and the second largest IPO market in 2025. Temasek said it maintained its positive outlook for India and its 2023 goal of investing up to $10 billion in Asia's third-largest economy over a three-year horizon. Temasek invested over $3 billion in India over the past year. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. The 10-second mystery: Did the Air India crash report hide more than what it revealed? Can Indian IT's 'pyramid' survive the GenAI shake-up? Zee promoters have a new challenge to navigate. And it's not about funding or Sebi probe. The deluge that's cooling oil prices despite the Iran conflict Stock Radar: Natco Pharma stock showing signs of momentum after falling over 30% from highs – what should investors do? In mid-caps, 'just hold' often creates wealth: 10 mid-cap stocks from different sectors with upside potential up to 44% F&O Talk | Foreign outflows, IT drag pull nifty lower; next support at 24,500: Rahul Ghose How to use dividend yield in volatile times: 6 stocks where this strategy has a high chance of giving much better returns
Yahoo
14-07-2025
- Business
- Yahoo
Temasek eyes more Indian family-run businesses after Haldiram's deal
By Dhwani Pandya MUMBAI (Reuters) -Singapore's state investor Temasek is looking to invest more in Indian family-run businesses, a top executive said on Monday, months after it invested $1 billion in a popular domestic snacks company. Family businesses in India, with their multigenerational legacies, strong domestic brands and loyal customers, have become attractive for global investors in recent years. In March, Temasek bought a 10% stake in Haldiram's at a valuation of around $10 billion, with sources describing it as a "prized asset" that will help investors expand its focus on India's consumer sector. "We've been very active in investing behind family-run businesses, we can invest across the value chain," Vishesh Shrivastav, managing director of Temasek's India investment team, said in an interview at its Mumbai office. Temasek has earlier invested in many businesses in India which were once run by business families, such as Manipal Hospitals and Dr Agarwal's Health Care. In a separate factsheet, Temasek said it was "keen to partner more family-owned businesses to drive long-term value creation." It did not name any potential targets. Temasek spent $2 billion in April 2023 to raise its stake in Manipal to 59% from 18% in the biggest hospital sector deal ever in India. It later sold a minority stake to Novo Nordisk's parent Novo Holdings and Abu Dhabi's sovereign investor Mubadala, but retained majority control of the hospital chain. Asked about Manipal Hospitals possible public offering, Shrivastav said it was "an eminently listable company," without elaborating. India continues to be Temasek's best-performing market over the last decade, as it remained the world's fastest-growing major economy and the second largest IPO market in 2025. Temasek said it maintained its positive outlook for India and its 2023 goal of investing up to $10 billion in Asia's third-largest economy over a three-year horizon. Temasek invested over $3 billion in India over the past year. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
14-07-2025
- Business
- Business Standard
Temasek looks to invest more in family-run businesses after Haldiram's deal
Singapore's state investor Temasek is looking to invest more in Indian family-run businesses, a top executive said on Monday, months after it invested $1 billion in a popular domestic snacks company. Family businesses in India, with their multigenerational legacies, strong domestic brands and loyal customers, have become attractive for global investors in recent years. In March, Temasek bought a 10% stake in Haldiram's at a valuation of around $10 billion, with sources describing it as a "prized asset" that will help investors expand its focus on India's consumer sector. "We've been very active in investing behind family-run businesses, we can invest across the value chain," Vishesh Shrivastav, managing director of Temasek's India investment team, said in an interview at its Mumbai office. Temasek has earlier invested in many businesses in India which were once run by business families, such as Manipal Hospitals and Dr Agarwal's Health Care. In a separate factsheet, Temasek said it was "keen to partner more family-owned businesses to drive long-term value creation." It did not name any potential targets. Temasek spent $2 billion in April 2023 to raise its stake in Manipal to 59% from 18% in the biggest hospital sector deal ever in India. It later sold a minority stake to Novo Nordisk's parent Novo Holdings and Abu Dhabi's sovereign investor Mubadala, but retained majority control of the hospital chain. Asked about Manipal Hospitals possible public offering, Shrivastav said it was "an eminently listable company," without elaborating. India continues to be Temasek's best-performing market over the last decade, as it remained the world's fastest-growing major economy and the second largest IPO market in 2025. Temasek said it maintained its positive outlook for India and its 2023 goal of investing up to $10 billion in Asia's third-largest economy over a three-year horizon. Temasek invested over $3 billion in India over the past year.
