India's Apollo Hospitals seeks private equity investment
Apollo Hospitals is looking to garner additional funding from private equity investors to the tune of INR3,000 crore in an effort to expand its reach in India, with the company’s Chairman suggesting that a partnership with Malaysian sovereign wealth fund Khazanah Nasional would be fitting off the back of the latter's recent acquisition of Singapore's Parkway Holdings.
According to reports citing Apollo's Chairman D. Prathap Reddy, the funding would be used for expansion, by specifically by building 50 smaller, specialized hospitals in tier-II cities and one at an international airport in the country.
"We would like to partner with Khazanah in Parkway if they think we can add value. But there is no plan to put in any money at this point," Reddy told media, adding that Apollo, which claims to be India's largest chain of multi-specialty hospitals, has a debt-equity ratio "at 0.05:1, which gives us the necessary headroom to raise more money from banks."
More on Investments
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.