Latest news with #Rs30bn
Yahoo
17-06-2025
- Business
- Yahoo
Manipal and Fortis to raise funds to bid for Sahyadri Hospitals
Indian companies Manipal Health Enterprises and Fortis Healthcare are in discussions with international financial institutions to secure financing to support their acquisition efforts, as the bidding deadline of 22 June for the multispeciality hospital chain Sahyadri Hospitals approaches. The lenders include DBS Group Holdings, Mizuho Bank, Deutsche Bank, HSBC Holdings, and Barclays, people with knowledge of the matter said. The financing, which aims to back respective bids of the two companies, ranges from Rs30bn to Rs50bn ($347.61m to $579.35m). Aster DM Healthcare, another contender in the bidding process, has not yet finalised its financing plans, according to sources. The sale of Sahyadri Hospitals is being orchestrated by Ontario Teachers' Pension Plan (OTPP), which holds a 98.9% stake in the hospital chain. OTPP, with more than $3bn in investments, appointed Jefferies to manage the sale earlier this year. The Canadian pension fund had acquired Sahyadri Hospitals at a valuation of Rs25bn from Everstone Capital, which had previously purchased the chain from its founder, Dr Charudutt Apte, in 2019 for Rs10bn. Sahyadri Hospitals, founded in 1996 by neurosurgeon Dr Apte, operates 11 hospitals with 1,300 operational beds across Pune, Nashik, and Karad in the state of Maharashtra. The healthcare provider is part of several government health schemes, including Ayushman Bharat and the Central Government Health Scheme (CGHS). This acquisition comes at a time when India's hospital sector is undergoing consolidation. In February, Fortis Healthcare signed definitive agreements to acquire Shrimann Superspecialty Hospital in Jalandhar, Punjab, India. The acquisition, from partnership company inter alia Shriman Enterprises through a slump sale, is part of Fortis' strategy to expand its network in the region. "Manipal and Fortis to raise funds to bid for Sahyadri Hospitals" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
03-06-2025
- Business
- Yahoo
Spark Capital launches wealth management operations in Dubai's DIFC
India's Spark Capital Private Wealth Management (Spark Capital PWM) has established its operations in the Dubai International Financial Centre (DIFC) through its subsidiary, Spark Global PWM Private Limited. The move positions DIFC as the hub for Spark Capital's Middle East operations. DIFC hosts 420 wealth and asset management firms, including 75 hedge funds, 48 of which are part of the 'billion-dollar club'. Spark Global PWM Private Limited, a CAT4 firm regulated by the Dubai Financial Services Authority, will facilitate access to diverse markets for global investors, offering comprehensive portfolio diversification opportunities. The DIFC office will be staffed by experienced wealth management professionals with extensive knowledge of global markets. The team will utilise Spark Capital's research capabilities and advanced investment strategies to deliver client-focused solutions in the region. Spark Capital PWM Private Limited senior managing director and co-CEO Arpita Vinay said: 'The establishment of our DIFC office represents a significant milestone in Spark Capital PWM's global growth strategy. 'Dubai's strategic location and robust financial infrastructure provide an ideal platform to connect investors across regions with diverse investment opportunities.' Spark Capital PWM stated that it has experienced 'substantial growth' in recent years, increasing its assets under management from around Rs30bn ($360.24m) in April 2023 to Rs300bn ($3.56bn) by May 2025. The firm's workforce has expanded from 60 to over 400 professionals, including more than 130 relationship managers, and it has established a presence in 12 cities across India. Spark Global PWM Private Limited senior executive officer Neeraj Ojha said: 'DIFC offers an exceptional ecosystem for wealth management firms, with its world-class regulatory framework and access to a wide network of financial institutions. 'Through our presence here, we aim to provide professional clients in the Middle East with comprehensive wealth solutions backed by Spark Capital's expertise and innovation in investment management.' "Spark Capital launches wealth management operations in Dubai's DIFC" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
03-06-2025
- Business
- Yahoo
Spark Capital launches wealth management operations in Dubai's DIFC
India's Spark Capital Private Wealth Management (Spark Capital PWM) has established its operations in the Dubai International Financial Centre (DIFC) through its subsidiary, Spark Global PWM Private Limited. The move positions DIFC as the hub for Spark Capital's Middle East operations. DIFC hosts 420 wealth and asset management firms, including 75 hedge funds, 48 of which are part of the 'billion-dollar club'. Spark Global PWM Private Limited, a CAT4 firm regulated by the Dubai Financial Services Authority, will facilitate access to diverse markets for global investors, offering comprehensive portfolio diversification opportunities. The DIFC office will be staffed by experienced wealth management professionals with extensive knowledge of global markets. The team will utilise Spark Capital's research capabilities and advanced investment strategies to deliver client-focused solutions in the region. Spark Capital PWM Private Limited senior managing director and co-CEO Arpita Vinay said: 'The establishment of our DIFC office represents a significant milestone in Spark Capital PWM's global growth strategy. 'Dubai's strategic location and robust financial infrastructure provide an ideal platform to connect investors across regions with diverse investment opportunities.' Spark Capital PWM stated that it has experienced 'substantial growth' in recent years, increasing its assets under management from around Rs30bn ($360.24m) in April 2023 to Rs300bn ($3.56bn) by May 2025. The firm's workforce has expanded from 60 to over 400 professionals, including more than 130 relationship managers, and it has established a presence in 12 cities across India. Spark Global PWM Private Limited senior executive officer Neeraj Ojha said: 'DIFC offers an exceptional ecosystem for wealth management firms, with its world-class regulatory framework and access to a wide network of financial institutions. 'Through our presence here, we aim to provide professional clients in the Middle East with comprehensive wealth solutions backed by Spark Capital's expertise and innovation in investment management.' "Spark Capital launches wealth management operations in Dubai's DIFC" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
12-02-2025
- Business
- Zawya
Tata Steel mulls $346mmln bond offering: IFR
Tata Steel is mulling an offering of up to Rs30bn (US$346m) of three, five and 10-year bonds, according to market sources. It is currently heard to be seeking pricing guidance from bankers. Care and India Ratings have assigned a AA+ rating to the unsecured notes. The funds will be used for debt repayment. In May, Tata Steel received board approval to issue rupee bonds and inject capital into a Singapore-based subsidiary to repay debt and restructure its UK unit. The company has approval to raise up to Rs30bn from non-convertible debentures in one or more tranches via private placement in the fiscal year ending on March 31. Source: IFR
