Manipal Hospitals Acquires Sahyadri for ₹6,400 Cr, Funded by ₹5,310 Cr NCDs
Manipal Hospitals Private Limited has recently completed a significant acquisition and funding transaction. The company has acquired Sahyadri Hospitals Private Limited for ₹6,400 crore, advised by Cyril Amarchand Mangaldas. The acquisition was partly funded by ₹5,310 crore worth of non-convertible debentures (NCDs) issued on a private placement basis.
The NCDs were subscribed by several prominent international banks, including DBS Bank, Deutsche Bank, Sumitomo Mitsui Banking Corporation (SMBC), MUFG Bank, and BNP Paribas. Cyril Amarchand Mangaldas, a leading Indian law firm, advised Manipal Hospitals on both the acquisition and the issuance of the NCDs. The proceeds from the NCD issuance will be used to finance the acquisition of Sahyadri Hospitals Group, expanding Manipal Hospitals' footprint in the Indian healthcare sector.
The acquisition of Sahyadri Hospitals Private Limited by Manipal Hospitals Private Limited is one of the largest transactions in the Indian healthcare industry. The successful closure of this deal, along with the strategic funding through NCDs, positions Manipal Hospitals for further growth and expansion.
