@vccircle: IFC, the private equity arm of World Bank is investing Rs 150 crore in Max India, a business house which has interests in areas like healthcare and insurance. IFC has previously invested in Max Healthcare in 2007.
The funds will be used by Max Healthcare to construct two greenfield hospitals in NCR – one in Shalimar Bagh and the other in Greater Noida. Both hospitals will be 300 bed multi-specialty tertiary hospitals, starting with an initial capacity of 150 beds on completion. Part of the funds will be used for expansion of existing Max facilities in the area.
Max India presently has a market capitalisation of around Rs 3,162 crore. As per the present market cap, IFC may get a 4-5% stake in the company. The stock closed at Rs 144.30 on Wednesday. Max India has a presence in areas like life insurance (a JV with New York Life), healthcare, clinical research, specialty plastics and health staffing.