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PE funds to invest Rs 800 crore in Niva Bupa
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MUMBAI: Health insurer Niva Bupa on Thursday said a clutch of private equity funds have committed to invest 800 crore in the company. India Business Excellence Fund IV (MO Alternate Investment Advisors), Temasek and Paragon Partners Growth Fund II will be investing the money for a minority stake in company.
The announcement comes within a fortnight of PE major True North announcing 20% stake sale in company to Bupa for 2,700 crore, making UK-headquartered company a majority owner in company.
“This injection of capital will play a pivotal role in propelling the company towards its long-term ambitions,” True North's partner Divya Sehgal said.
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