Swaraj Singh Dhanjal
TPG Capital and Manipal Group are currently said to be conducting due diligence on hospital operator Medanta.
PVR has appointed investment banks Kotak Mahindra Capital and CLSA to manage the fundraising process.
The drop in deal value is mainly due to the lack of large, $1-billion-plus deals last month.
The funds were raised through issuance of NCDs, making it the lender’s fifth such offshore debt fund-raise in the last seven months.
The group has already initiated talks to sell stakes in broadcaster Zee Entertainment Enterprises Ltd and road and solar power assets.
This marks TPG Growth’s first investment in India’s growing life sciences sector and adds to its portfolio of domestic healthcare companies.
The transaction marks Investcorp’s entry into India and is in line with its long-term strategy of expanding its footprint and client base globally.
Strides Pharma Global has approved the sale of its entire business in Australia for $282 million.
DHFL intends to further reduce its real estate project finance exposure through such transactions in the future.
The company has priced its shares in the range of Rs275-280 per share.