Latest news with #Rs25bn
Yahoo
17-06-2025
- Business
- Yahoo
Manipal and Fortis to raise funds to bid for Sahyadri Hospitals
Indian companies Manipal Health Enterprises and Fortis Healthcare are in discussions with international financial institutions to secure financing to support their acquisition efforts, as the bidding deadline of 22 June for the multispeciality hospital chain Sahyadri Hospitals approaches. The lenders include DBS Group Holdings, Mizuho Bank, Deutsche Bank, HSBC Holdings, and Barclays, people with knowledge of the matter said. The financing, which aims to back respective bids of the two companies, ranges from Rs30bn to Rs50bn ($347.61m to $579.35m). Aster DM Healthcare, another contender in the bidding process, has not yet finalised its financing plans, according to sources. The sale of Sahyadri Hospitals is being orchestrated by Ontario Teachers' Pension Plan (OTPP), which holds a 98.9% stake in the hospital chain. OTPP, with more than $3bn in investments, appointed Jefferies to manage the sale earlier this year. The Canadian pension fund had acquired Sahyadri Hospitals at a valuation of Rs25bn from Everstone Capital, which had previously purchased the chain from its founder, Dr Charudutt Apte, in 2019 for Rs10bn. Sahyadri Hospitals, founded in 1996 by neurosurgeon Dr Apte, operates 11 hospitals with 1,300 operational beds across Pune, Nashik, and Karad in the state of Maharashtra. The healthcare provider is part of several government health schemes, including Ayushman Bharat and the Central Government Health Scheme (CGHS). This acquisition comes at a time when India's hospital sector is undergoing consolidation. In February, Fortis Healthcare signed definitive agreements to acquire Shrimann Superspecialty Hospital in Jalandhar, Punjab, India. The acquisition, from partnership company inter alia Shriman Enterprises through a slump sale, is part of Fortis' strategy to expand its network in the region. "Manipal and Fortis to raise funds to bid for Sahyadri Hospitals" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Zawya
29-04-2025
- Business
- Zawya
Tata Capital to tap September 2027 bonds: IFR
Tata Capital is planning to raise up to Rs25bn (US$294m) from a tap of its 8% September 10 2027 bonds, according to market sources. The non-banking financial company is eyeing Rs5bn plus a greenshoe of Rs20bn. Crisil and Care have assigned a AAA (stable) rating to the notes. ICICI Securities Dealership, Nuvama Wealth Management and Trust Investment Advisors are heard to be the arrangers. The issuer is seeking bids on the NSE's electronic bidding platform on April 30. Source: IFR
Yahoo
04-03-2025
- Automotive
- Yahoo
India's Jupiter Wagons wins contract to supply wheelsets for Braithwaite & Co
Jupiter Wagons' specialised wheelset manufacturing arm Jupiter Tatravagonka Railwheel Factory has secured a contract worth Rs2.55bn ($29.1m) from Braithwaite & Co for the supply of 9,140 wheelsets. The contract elevates Jupiter's total order book to Rs5.6bn ($64m). Jupiter Wagons managing director Vivek Lohia said: 'This order from Braithwaite & Co. underscores the trust in Jupiter Tatravagonka Railwheel Factory's manufacturing excellence and our ability to meet the evolving demands of India's railway sector. 'With the rapid expansion of freight and passenger rail networks, there is a critical need for reliable, high-performance wheelsets produced domestically at scale. 'Our Odisha facility will be a game-changer in this space, ensuring India's self-sufficiency in wheelset manufacturing while also positioning us as a global supplier.' Jupiter Wagons is a provider of mobility solutions, offering a wide range of products, including freight wagons, locomotives, commercial vehicles, and ISO marine containers. The company operates manufacturing facilities in Kolkata, Jamshedpur, Indore, Jabalpur, and Aurangabad, with complete backward integration to its foundry operations. Jupiter Wagons' strategic plans include a revenue target of Rs6bn ($68.5bn) crore from its wheel business by the financial year 2026, nearly doubling its current figures. To realise this ambition, Jupiter is undergoing a major expansion, with a new facility in Odisha set to increase annual capacity from 20,000 to 100,000 forged wheelsets. This expansion, supported by a Rs25bn ($285.5m) crore investment, aligns with national goals to strengthen domestic manufacturing and curb import dependency. The Odisha project is on track, with axle production slated to commence by December 2026 and the full wheel and axle production unit expected to be operational by December 2027. This development is a strategic move to enhance India's rail manufacturing capabilities and reduce the country's reliance on imported railway components. "India's Jupiter Wagons wins contract to supply wheelsets for Braithwaite & Co" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
