Dr Agarwal's Group of Eye Hospitals raises Rs 215 crore from CDC Group

The 63-year-old Chennai-based chain currently has around 90 hospitals, including 14 in Africa

Dr Agarwal’s Health Care has raised Rs 215 crore from CDC, deveopment finance arm of the British government. 

The money will support the company's Rs 500-crore investment plan to double its network. The eyecare chain is considering a public issue of stock in three years.

With the funding, CDC will get a seat on the company's board of directors. Veda Corporate Advisors, a mid-market investment bank, advised the company on the transaction. 

Amar Agarwal, chairman of the Chennai-based chain, said they'd decided to raise the money in the form of structured debt, to avoid dilution in equity. Before this investment, the 63-year-old company