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Business Standard
4 days ago
- Business
- Business Standard
KKR lends $600 million to Manipal Group in its largest credit investment
Private equity giant KKR & Co has provided $600 million in financing to the Manipal Group, marking the American firm's largest private credit investment in India to date. The structured capital will support the Ranjan Pai-led group's long-term growth and expansion strategy, the firms said in a joint statement on Monday. The capital was arranged by KKR Capital Markets and is being anchored by the firm's private credit and insurance platforms. Manipal Group has grown into a diversified conglomerate with a significant presence in healthcare, education and health insurance across India and overseas. Its operations reach over 20 million people annually, with Manipal Hospitals—where it owns a 40 per cent stake—emerging as the largest tertiary healthcare network in the country. Founded in 1953 by TMA Pai, thehas grown into a diversified conglomerate with a significant presence in healthcare, education and health insurance across India and overseas. Its operations reach over 20 million people annually, with Manipal Hospitals—where it owns a 40 per cent stake—emerging as the largest tertiary healthcare network in the country. The deal comes amid a broader surge in private credit activity in India, with global investors increasingly stepping into a space that traditional banks and non-banking financial companies (NBFCs) often struggle to serve. By offering flexible capital to both performing and stressed companies, private credit is helping bridge financing gaps while delivering superior risk-adjusted returns to investors. ALSO READ: In the works: Motherson Group's offer to acquire Marelli Holdings Last week, the Shapoorji Pallonji Group raised India's largest private credit deal at $3.35 billion. The infrastructure conglomerate secured the funding by pledging a portion of its Tata Sons stake as collateral, attracting commitments from global investors including BlackRock and Morgan Stanley. India has emerged as one of the largest private debt markets in the Asia-Pacific region and is projected to account for up to 30 per cent of the region's private credit fundraising by the end of 2025, according to a PwC report. 'India is a priority market for our credit strategy, and we look to build on this momentum to be a partner of choice to more high-quality companies on their growth ambitions,' said Diane Raposio, partner and head of Asia credit and markets, KKR. 'This transaction underscores the strength of our global credit platform and our ability to provide strategic, scaled capital solutions to leading businesses,' she added. KKR is channelling the financing through its Asia-Pacific credit strategy and insurance platform. Since 2019, the firm has committed over $8 billion across approximately 60 credit deals in the region, representing a total transaction volume exceeding $21 billion, the company said. 'We are proud to welcome KKR as a strategic partner as we continue to build on Manipal's legacy in healthcare and education. KKR's longstanding India focus and flexible capital approach, as well as alignment with our long-term vision, present a strong fit for us,' said Ranjan Pai, chairman, Manipal Education and Medical Group. The group did not specify where it would invest the proceeds of the debt.
Business Standard
27-05-2025
- Health
- Business Standard
MAHE's 32nd Convocation: A Celebration of Dreams and Distinction
PRNewswire Mangaluru (Karnataka) [India], May 27: Manipal Academy of Higher Education (MAHE), an Institution of Eminence Deemed to be University, one of India's leading research-focused multi-disciplinary higher education institution, hosted its 32nd edition of Convocation on May 24, in Mangaluru. The convocation ceremony brought together graduates, faculty, dignitaries, and guests for a momentous celebration of academic achievement. In this convocation, 1,367 students graduated, including 766 undergraduates, 440 postgraduates, and 161 PhD recipients. Of these 616 students attended the ceremony in person, marking a major milestone in their academic and professional journeys. A special highlight was the conferring of the prestigious Dr. TMA Pai Gold Medal to four outstanding students: Ms. Isha Tripathi, MBBS, Kasturba Medical College, Manipal; Ms. R. Prithvi, MBBS, Kasturba Medical College, Mangalore; Ms. Chaarvi Bansal, BDS, Manipal College of Dental Sciences, Manipal and Ms. Anoushka Avi, BDS, Manipal College of Dental Sciences, Mangalore. Dr. Abhijat Sheth, President of the National Board of Examinations in Medical Sciences, Ministry of Health and Family Welfare, Government of India, was the honourable chief guest at the ceremony. In his keynote address, Dr Sheth emphasized the critical need for educated and ethical professionals in today's rapidly changing world. He noted: "As our society faces unprecedented technological advancements, environmental challenges, and socio-economic shifts, the importance of individuals who are not only knowledgeable but also uphold strong ethical standards has never been greater. It is this combination of intellect and integrity that will drive meaningful progress." He further highlighted the importance of communication and research in medical education: "At the highest levels of policy making, we recognise that effective communication and strong foundation in clinical research are essential skills for future health care professionals. These disciplines must be cultivated early in medical training to ensure that our graduates are prepared to meet the complex demands of modern healthcare." Dr. Sheth praised MAHE's role in nurturing such professionals: "Institutions like MAHE play a vital role in shaping leaders who can navigate complexity with vision and integrity. The education you have received here has equipped you to address the challenges of modern world. I urge you to carry forward MAHE's legacy of excellence, innovation, and service wherever your journey take you." He also expressed gratitude and called for stronger collaboration with MAHE: "On behalf of the National Board of Examinations in Medical Sciences (NBEMS), I extend heartfelt thanks to the MAHE faculty for their outstanding faculty development programs for NBEMS. I encourage the university leadership to explore even broader collaborations with NBEMS, so together we can further advance medical education and research in India." "It is a moment of immense pride to witness yet another batch of bright minds step into the world," Dr. H. S. Ballal, Pro Chancellor, MAHE noted during the ceremony. "At MAHE, we don't just prepare students for careers, we prepare them to shape the future. We take great pride in having nurtured these young minds who are now ready to embrace the challenges of tomorrow. These graduates represent the next generation of innovators, healers, thinkers, and change-makers. Their achievements reflect the values and excellence MAHE stands for." Speaking on the occasion, Lt. Gen. (Dr.) M. D. Venkatesh, VSM (Retd.) Vice Chancellor, MAHE, said, "MAHE has always stood at the intersection of tradition and transformation, where academic rigor meets global relevance. As we empower students to think critically, collaborate across cultures, and drive meaningful innovation, we continue to evolve as a university of impact. Our strength lies in our ability to adapt, lead, and anticipate the future needs of society. This graduating batch embodies that spirit, well-prepared to contribute with both intellect and empathy. I take great pride in their journey and look forward to the mark they will make on the world." Highlighting the momentous occasion, Dr. Dilip G. Naik, Pro Vice Chancellor, MAHE Mangalore campus, remarked, "Beyond degrees and accolades, this day also celebrates the friendships, shared experiences, and meaningful connections built over the years. As our graduates embark on new paths, they carry with them a global network and a deep connection to their alma mater. They will remain forever a part of the MAHE family." Dr. Narayana Sabhahit, Pro Vice Chancellor - Technology & Science, Dr. Sharath Rao K, Pro Vice Chancellor - Health Sciences, Dr. Giridhar Kini, Registrar, and Dr. Vinod Thomas, Registrar Evaluation graced the event with their esteemed presence. Dr. B. Unnikrishnan, Dean, Kasturba Medical College, Mangalore introduced the chief guest and Dr. Ashita Uppoor, Dean, Manipal College of Dental Sciences, Mangalore proposed vote of thanks. About Manipal Academy of Higher Education The Manipal Academy of Higher Education (MAHE) is an Institution of Eminence Deemed-to-be University. MAHE offers over 400 specializations across the Health Sciences (HS), Management, Law, Humanities & Social Sciences (MLHS), and Technology & Science (T & S) streams through its constituent units at campuses in Manipal, Mangalore, Bengaluru, Jamshedpur, and Dubai. With a remarkable track record in academics, state-of-the-art infrastructure, and significant contributions to research, MAHE has earned recognition and acclaim both nationally and internationally. In October 2020, the Ministry of Education, Government of India, awarded MAHE the prestigious Institution of Eminence status. Currently ranked 4th in the National Institutional Ranking Framework (NIRF), MAHE is the preferred choice for students seeking a transformative learning experience and an enriching campus life, as well as for national & multi-national corporates looking for top talent.
Business Upturn
27-05-2025
- Health
- Business Upturn
MAHE's 32nd Convocation: A Celebration of Dreams and Distinction
MANGALURU, India , May 27, 2025 /PRNewswire/ — Manipal Academy of Higher Education (MAHE), an Institution of Eminence Deemed to be University, one of India's leading research-focused multi-disciplinary higher education institution, hosted its 32nd edition of Convocation on May 24 , in Mangaluru. The convocation ceremony brought together graduates, faculty, dignitaries, and guests for a momentous celebration of academic achievement. In this convocation, 1,367 students graduated, including 766 undergraduates, 440 postgraduates, and 161 PhD recipients. Of these 616 students attended the ceremony in person, marking a major milestone in their academic and professional journeys. A special highlight was the conferring of the prestigious Dr. TMA Pai Gold Medal to four outstanding students: Ms. Isha Tripathi, MBBS, Kasturba Medical College, Manipal; Ms. R. Prithvi, MBBS, Kasturba Medical College, Mangalore; Ms. Chaarvi Bansal, BDS, Manipal College of Dental Sciences, Manipal and Ms. Anoushka Avi , BDS, Manipal College of Dental Sciences, Mangalore. Dr. Abhijat Sheth , President of the National Board of Examinations in Medical Sciences, Ministry of Health and Family Welfare, Government of India , was the honourable chief guest at the ceremony. In his keynote address, Dr Sheth emphasized the critical need for educated and ethical professionals in today's rapidly changing world. He noted: 'As our society faces unprecedented technological advancements, environmental challenges, and socio-economic shifts, the importance of individuals who are not only knowledgeable but also uphold strong ethical standards has never been greater. It is this combination of intellect and integrity that will drive meaningful progress.' He further highlighted the importance of communication and research in medical education: 'At the highest levels of policy making, we recognise that effective communication and strong foundation in clinical research are essential skills for future health care professionals. These disciplines must be cultivated early in medical training to ensure that our graduates are prepared to meet the complex demands of modern healthcare.' Dr. Sheth praised MAHE's role in nurturing such professionals: 'Institutions like MAHE play a vital role in shaping leaders who can navigate complexity with vision and integrity. The education you have received here has equipped you to address the challenges of modern world. I urge you to carry forward MAHE's legacy of excellence, innovation, and service wherever your journey take you.' He also expressed gratitude and called for stronger collaboration with MAHE: 'On behalf of the National Board of Examinations in Medical Sciences (NBEMS), I extend heartfelt thanks to the MAHE faculty for their outstanding faculty development programs for NBEMS. I encourage the university leadership to explore even broader collaborations with NBEMS, so together we can further advance medical education and research in India .' 'It is a moment of immense pride to witness yet another batch of bright minds step into the world,' Dr. H. S. Ballal, Pro Chancellor, MAHE noted during the ceremony. 'At MAHE, we don't just prepare students for careers, we prepare them to shape the future. We take great pride in having nurtured these young minds who are now ready to embrace the challenges of tomorrow. These graduates represent the next generation of innovators, healers, thinkers, and change-makers. Their achievements reflect the values and excellence MAHE stands for.' Speaking on the occasion, Lt. Gen. (Dr.) M. D. Venkatesh, VSM (Retd.) Vice Chancellor, MAHE, said, 'MAHE has always stood at the intersection of tradition and transformation, where academic rigor meets global relevance. As we empower students to think critically, collaborate across cultures, and drive meaningful innovation, we continue to evolve as a university of impact. Our strength lies in our ability to adapt, lead, and anticipate the future needs of society. This graduating batch embodies that spirit, well-prepared to contribute with both intellect and empathy. I take great pride in their journey and look forward to the mark they will make on the world.' Highlighting the momentous occasion, Dr. Dilip G. Naik , Pro Vice Chancellor, MAHE Mangalore campus, remarked, 'Beyond degrees and accolades, this day also celebrates the friendships, shared experiences, and meaningful connections built over the years. As our graduates embark on new paths, they carry with them a global network and a deep connection to their alma mater. They will remain forever a part of the MAHE family.' Dr. Narayana Sabhahit, Pro Vice Chancellor – Technology & Science, Dr. Sharath Rao K, Pro Vice Chancellor – Health Sciences, Dr. Giridhar Kini , Registrar, and Dr. Vinod Thomas , Registrar Evaluation graced the event with their esteemed presence. Dr. B. Unnikrishnan, Dean, Kasturba Medical College, Mangalore introduced the chief guest and Dr. Ashita Uppoor , Dean, Manipal College of Dental Sciences, Mangalore proposed vote of thanks. About Manipal Academy of Higher Education The Manipal Academy of Higher Education (MAHE) is an Institution of Eminence Deemed-to-be University. MAHE offers over 400 specializations across the Health Sciences (HS), Management, Law, Humanities & Social Sciences (MLHS), and Technology & Science (T&S) streams through its constituent units at campuses in Manipal, Mangalore, Bengaluru, Jamshedpur, and Dubai . With a remarkable track record in academics, state-of-the-art infrastructure, and significant contributions to research, MAHE has earned recognition and acclaim both nationally and internationally. In October 2020 , the Ministry of Education, Government of India , awarded MAHE the prestigious Institution of Eminence status. Currently ranked 4th in the National Institutional Ranking Framework (NIRF), MAHE is the preferred choice for students seeking a transformative learning experience and an enriching campus life, as well as for national & multi-national corporates looking for top talent. Photo: Logo:
Business Standard
01-05-2025
- Politics
- Business Standard
Manipal Group of Institutions Honor Visionary Founder Dr T.M.A Pai on 127th Birth Anniversary
NewsVoir Manipal (Karnataka) [India], May 1: Manipal Group of Institutions celebrated the 127th birth anniversary of its founder Dr TMA Pai in solemn and respectful ceremony held at Manipal on Wednesday, 30 April 2025. Paying rich tributes to the remarkable legacy of Dr TMA Pai on the occasion as the Chief Guest, Justice S Abdul Nazeer, His Excellency the Governor of Andhra Pradesh, described him as a 'legendary visionary' whose pioneering efforts in education and healthcare have transformed lives and continue to inspire generations. He remembered Dr. Pai as a multi-faceted personality, an educationist, banker, philanthropist, and a true nation builder. "Dr. Pai believed that poverty could be eradicated by eliminating illiteracy and ill health. Dr. Pai is a true Karma Yogi. He viewed educated children not just as assets to their families, but as the pillars of a progressive nation," he added. On a heartfelt personal note, the Governor also shared his connection to Dr. Pai's legacy. "I am a proud alumnus of Mahaveera College at Moodbidri, an institution founded by Dr. T.M.A. Pai. His vision shaped my educational journey and career," he said. The celebration was also attended by dignitaries from the Manipal Group comprising of Mrs Vasanti R Pai, Trustee, Manipal Academy of Higher Education (MAHE) Trust, Dr Ranjan R Pai, President, MAHE Trust, Registrar, Academy of General Education & Chairman, Manipal Education and Medical Group (MEMG), Bengaluru, Mr T Ashok Pai, President of Dr TMA Pai Foundation, Manipal, Mr T Satish U Pai, Executive Chairman, Manipal Media Network Ltd., & Vice President, AGE, Dr HS Ballal, Pro Chancellor, MAHE & President, AGE, Manipal, Lt Gen (Dr) MD Venkatesh VSM (Retd.), Vice Chancellor, MAHE, Manipal. The event was also graced by several senior officials from the Manipal Group, making it a significant celebration of Dr TMA Pai's lasting legacy. Each year Manipal Group of Institutions celebrates Founder's Day on April 30th on his birth anniversary to honor and remember the legacy of Dr TMA Pai, the visionary founder of the Manipal Group, who transformed the once barren hilltop of Manipal into a globally renowned educational hub. This year's celebration featured several programs, beginning with a heartfelt floral tribute to Dr TMA Pai by all the distinguished guests and dignitaries. Welcoming the august gathering, Dr HS Ballal, President-AGE Manipal & Pro Chancellor-MAHE, said, "We are reminded of the extraordinary vision of our founder Dr TMA Pai that has shaped not just an institution, but an entire educational ecosystem. Dr Pai's anticipation into establishing self-financing educational institutions in the 1950s was revolutionary for its time and continues to inspire our approach to education today. Today, as we honor his memory, we entrust ourselves to his principles of accessible quality education, innovation, and service to society that have become the traditional hallmark of the Manipal experience." Addressing the audience, Lt Gen (Dr) MD Venkatesh, VSM (Retd.), Vice Chancellor of MAHE, said, "As we celebrate the 127th birth anniversary of our founder, Dr TMA Pai, we reflect on a legacy that continues to guide our institution's mission and vision. Dr Pai's remarkable journey from establishing a single medical college to creating this comprehensive educational ecosystem exemplifies what visionary leadership can accomplish. His basic belief that education should be accessible to all, regardless of socioeconomic differences, remains central to the base of our institution. In the past year, we have further strengthened our commitment to this vision through expanded scholarship programs, research initiatives addressing societal challenges, and international collaborations that provide our students with global perspectives." The event featured several award presentations, including the "Kundapur Mohan and Latha Bhandarkars' Merit-cum-Means Scholarships", the "Smt. Sharada M Pai - Dr Padma Rao Memorial Award" for the Best Nursing and Anganwadi Service, the "Smt. Sharada M Pai - Dr Padma Rao A- MMS Diamond Jubilee Award" for the Best Female Warden/Caretaker (Non-Teaching Staff), and the "Smt. Geetha K Nayak Memorial Award" for the Senior Nurses of Kasturba Hospital. The event also honored rank holders from AGE Colleges, recipients of Kadambi Scholarships, and Manipal Scholars. Dr Narayana Sabhahit, Pro Vice Chancellor - Technology & Science, MAHE, delivered a vote of thanks, expressing gratitude to all those who contributed to making the celebration a success. The Manipal Academy of Higher Education (MAHE) is an Institution of Eminence Deemed-to-be University. MAHE offers over 400 specializations across the Health Sciences (HS), Management, Law, Humanities & Social Sciences (MLHS), and Technology & Science (T & S) streams through its constituent units at campuses in Manipal, Mangalore, Bangalore, Jamshedpur, and Dubai. With a remarkable academic track record, state-of-the-art infrastructure, and significant research contributions, MAHE has earned recognition and acclaim nationally and internationally. In October 2020, the Ministry of Education, Government of India, awarded MAHE the prestigious Institution of Eminence status. Currently ranked 4th in the National Institutional Ranking Framework (NIRF), MAHE is the preferred choice for students seeking transformative learning experience and an enriching campus life and for national & multi-national corporates looking for top talent.
Fashion Value Chain
01-05-2025
- Business
- Fashion Value Chain
Manipal Group of Institutions Honor Visionary Founder Dr T.M.A Pai on 127th Birth Anniversary
Manipal Group of Institutions celebrated the 127th birth anniversary of its founder Dr TMA Pai in solemn and respectful ceremony held at Manipal on Wednesday, 30 April 2025. Paying rich tributes to the remarkable legacy of Dr TMA Pai on the occasion as the Chief Guest, Honble Justice Shri S Abdul Nazeer, His Excellency the Governor of Andhra Pradesh, described him as a 'legendary visionary' whose pioneering efforts in education and healthcare have transformed lives and continue to inspire generations. Honble Governor of Andhra Pradesh, Justice Shri S Abdul Nazeer, addresses the gathering at the 127th Birth Anniversary celebration of Dr T.M.A. Pai He remembered Dr. Pai as a multi-faceted personality, an educationist, banker, philanthropist, and a true nation builder. 'Dr. Pai believed that poverty could be eradicated by eliminating illiteracy and ill health. Dr. Pai is a true Karma Yogi. He viewed educated children not just as assets to their families, but as the pillars of a progressive nation,' he added. On a heartfelt personal note, the Governor also shared his connection to Dr. Pai's legacy. 'I am a proud alumnus of Mahaveera College at Moodbidri, an institution founded by Dr. T.M.A. Pai. His vision shaped my educational journey and career,' he said. The celebration was also attended by dignitaries from the Manipal Group comprising of Mrs Vasanti R Pai, Trustee, Manipal Academy of Higher Education (MAHE) Trust, Dr Ranjan R Pai, President, MAHE Trust, Registrar, Academy of General Education & Chairman, Manipal Education and Medical Group (MEMG), Bengaluru, Mr T Ashok Pai, President of Dr TMA Pai Foundation, Manipal, Mr T Satish U Pai, Executive Chairman, Manipal Media Network Ltd., & Vice President, AGE, Dr HS Ballal, Pro Chancellor, MAHE & President, AGE, Manipal, Lt Gen (Dr) MD Venkatesh VSM (Retd.), Vice Chancellor, MAHE, Manipal. The event was also graced by several senior officials from the Manipal Group, making it a significant celebration of Dr TMA Pais lasting legacy. Each year Manipal Group of Institutions celebrates Founders Day on April 30th on his birth anniversary to honor and remember the legacy of Dr TMA Pai, the visionary founder of the Manipal Group, who transformed the once barren hilltop of Manipal into a globally renowned educational hub. This years celebration featured several programs, beginning with a heartfelt floral tribute to Dr TMA Pai by all the distinguished guests and dignitaries. Welcoming the august gathering, Dr HS Ballal, President-AGE Manipal & Pro Chancellor-MAHE, said, 'We are reminded of the extraordinary vision of our founder Dr TMA Pai that has shaped not just an institution, but an entire educational ecosystem. Dr Pais anticipation into establishing self-financing educational institutions in the 1950s was revolutionary for its time and continues to inspire our approach to education today. Today, as we honor his memory, we entrust ourselves to his principles of accessible quality education, innovation, and service to society that have become the traditional hallmark of the Manipal experience.' Addressing the audience, Lt Gen (Dr) MD Venkatesh, VSM (Retd.), Vice Chancellor of MAHE, said, 'As we celebrate the 127th birth anniversary of our founder, Dr TMA Pai, we reflect on a legacy that continues to guide our institutions mission and vision. Dr Pais remarkable journey from establishing a single medical college to creating this comprehensive educational ecosystem exemplifies what visionary leadership can accomplish. His basic belief that education should be accessible to all, regardless of socioeconomic differences, remains central to the base of our institution. In the past year, we have further strengthened our commitment to this vision through expanded scholarship programs, research initiatives addressing societal challenges, and international collaborations that provide our students with global perspectives.' The event featured several award presentations, including the 'Kundapur Mohan and Latha Bhandarkars Merit-cum-Means Scholarships', the 'Smt. Sharada M Pai – Dr Padma Rao Memorial Award' for the Best Nursing and Anganwadi Service, the 'Smt. Sharada M Pai – Dr Padma Rao A- MMS Diamond Jubilee Award' for the Best Female Warden/Caretaker (Non-Teaching Staff), and the 'Smt. Geetha K Nayak Memorial Award' for the Senior Nurses of Kasturba Hospital. The event also honored rank holders from AGE Colleges, recipients of Kadambi Scholarships, and Manipal Scholars. Dr Narayana Sabhahit, Pro Vice Chancellor – Technology & Science, MAHE, delivered a vote of thanks, expressing gratitude to all those who contributed to making the celebration a success. About Manipal Academy of Higher Education The Manipal Academy of Higher Education (MAHE) is an Institution of Eminence Deemed-to-be University. MAHE offers over 400 specializations across the Health Sciences (HS), Management, Law, Humanities & Social Sciences (MLHS), and Technology & Science (T&S) streams through its constituent units at campuses in Manipal, Mangalore, Bangalore, Jamshedpur, and Dubai. With a remarkable academic track record, state-of-the-art infrastructure, and significant research contributions, MAHE has earned recognition and acclaim nationally and internationally. In October 2020, the Ministry of Education, Government of India, awarded MAHE the prestigious Institution of Eminence status. Currently ranked 4th in the National Institutional Ranking Framework (NIRF), MAHE is the preferred choice for students seeking transformative learning experience and an enriching campus life and for national & multi-national corporates looking for top talent.
