InvAscent-backed Ankura Hospitals may raise ₹400-500 crore, appoints banker

Subscribe to enjoy similar stories. Mumbai: InvAscent-backed Ankura Hospitals has kickstarted a fundraising process to raise ₹400-500 crore in a mix of primary and secondary transactions, three people familiar with the matter said. The Hyderabad-based company has appointed Alvarez & Marsal as an advisor to facilitate the capital raise, and the deal is expected to be launched in the coming weeks, the people said.

“Several growth stage will be tapped as a part of the process," one of the people said, adding that the company has seen some inbound interest from strategics as well for a minority stake in the company. “Its existing investor InvAscent may also exit its 7-year-old minority stake in part or in full in the process," a second person familiar with the matter said, adding that the exact deal structures are yet to be determined. All three people spoke on the condition of anonymity.

The development comes less than a year after the company raised funds to expand its operations, and at a time when investor interest in the mother and child care market has been steadily rising over the last few years on the back of a rising population, greater awareness, policy support, and increased spending on healthcare. “As a policy, we do not comment on market speculation or on matters relating to shareholders or external advisors. What we can share is that Ankura continues to pursue its expansion plans in line with our long-term strategy, maintaining a strong focus on clinical quality and patient experience across all our centres," a spokesperson for Ankura said.