IFC to finance Max India

By siliconindia   |    1 Comments
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IFC to finance Max India
Bangalore: The International Finance Corporation (IFC) intends to invest Rs 150 crore in Max India, which will use the funds to expand its healthcare business. The Max India, board of directors will hold a meeting on May 15th to decide on the proposal. Max will issue equity of upto Rs 150 crore on a preferential basis. Warburg Pincus, a private equity firm, has 22 percent stake in Max India. IFC had made a $66.7 million equity and quasi-equity investment in the company in 2007. Max Healthcare will use the funds to construct two Greenfield hospitals in National Capital Region (NCR). The funds will also be utilized to expand existing Max facilities in NCR. The company at present operates six hospitals and two specialty clinics in NCR.

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