Skip to main content

Temasek Holdings invests Rs 140 crore in HealthCare Global Enterprises

 Temasek Holdings, Singapore's state-owned investment company, has invested Rs 140 crore in Bangalore-headquartered cancer care provider HealthCare Global Enterprises (HCG).
The deal, which closed this week, values the company around Rs 1,000 crore, with HCG's founder and chairman BS Ajaikumar retaining a 26-28% stake, according to a person with direct knowledge of the deal.
Temasek joins existing investors Premji Invest, an investment entity owned by Wipro chairman Azim Premji, and Milestone Religare in a primary equity issuance by the company.
"We are pleased to invest in this firm which has redefined cancer care in India," said Rohit Sipahimalani, who heads the India practice for Temasek. The investment firm's $157-billion portfolio counts Bank of China, telecom firm Airtel and Singapore Airlines among its major companies.
Temasek's investment in HCG has also paved the way for Dubai-based alternative investment house Evolvence Capital to exit. The firm which had invested 30 crore in HCG almost five years ago out of itsEvolvence India Life Sciences Fund has gained close to 2.3 times return on investment.
This is the second time that a private equity fund has made a successful exit from HCG. The medical care provider initially raised Rs 50-crore from IDFC Private Equity almost seven years ago. When HCG raised a subsequent round of 240 crore from Premji Invest and Milestone, it enabled IDFC to exit the venture last year in April.
"Investors are chasing single-speciality chains instead of multi-speciality, as the model is more profitable, focused and it is easier to predict the outcome," said Harish HV, partner at Grant Thornton India.
Private equity and venture capital investments in the healthcare industry in India are increasing rapidly as supply is woefully low and demand continues to surge. Last year, the industry absorbed $1.2 billion across 48 deals, according to research firm Venture Intelligence. In 2011, there were 38 deals in the sector worth $421 million.
 
Sandip Ginodia
We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .


For more info and regular updates about unlisted shares and the stock market :
Follow our blog : www.abhisheksecurities.blogspot.in .
Like us on facebook : www.facebook.com/abhisheksecurities1 
Labels:

Comments

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated that it will continue t
Post a Comment
Read more

TCS merger with TCS e serve

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res
2 comments
Read more

Stock broker SMC Global files for IPO

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p
10 comments
Read more