Page 7 - Max Healthcare

IFC to invest $75 million in Max Healthcare via NCDs

Max Healthcare Institute Lto lines up around $325 million to acqurie balance stake in Saket City Hospital Private Limited (SCH) and general capital expansion of Max Healthcare Institute Limited (MHIL). The proposed investment will be backed by IFC.The total Project cost is approximately $325 million. The proposed IFC's investment comprises subscription of upto Rs 487.5 crore ($75 million) in secured Non-Convertible Debentures (NCDs) of MHIL. The Project comprises acquisition of balance 49 per cent of Saket City Hospital Private Limited (SCH) and general capital expansion of Max Healthcare Institute Limited (MHIL), according to IFC.MHIL is exploring possibilities to fund the acquisition from overseas market and External Commercial Borrowings cannot be used for such acquisition. IFC with its ability to subscribe to an NCD under its FPI (Foreign Portfolio Investor) license is uniquely positioned to provide the necessary funding with the requisite tenor and amount for the acquisition ...