Manipal Hospitals is planning to raise $50 million and is looking for investors who could provide land and buildings to run its hospital services. The healthcare chain is looking at having presence in Indore, Jaipur, Bhubaneshwar and Pune, besides bolstering its existing units across 15 hospitals.
Manipal Hospitals is a Bangalore-based healthcare chain. A month ago, it was planning to buyback Kotak’s 10 per cent stake for about Rs 200 crore.
Manipal Hospitals also got a commitment to raise close to Rs 1,000 crore from private equity fund - India Value Fund Advisors. It has initially raised funds from Kotak Group, IDFC PE and Capital International.