Hong Kong-based investment firm BPEA EQT will acquire a 60% stake in fertility services provider Indira IVF for Rs 5,400 crore ($656.6 million), a source aware of the matter said on Friday.
The deal values Indira IVF, which has 115 clinics in the country, at Rs 9,000 crore ($1.1 billion), the source added.
BPEA EQT's parent, Sweden's EQT, said in a statement that the fund would acquire the stake from private equity firm TA Associates and Indira IVF's founders, who will retain a minority stake and continue to lead the company. The statement, however, did not mention the size of the stake or the deal value.
A post-pandemic boom in demand for private healthcare in India has led to global investors seeking entry into healthcare chains in the country. As per sources, at least nine such chains are currently in talks to sell stakes.
BPEA EQT and Indira IVF did not immediately respond to request for further comments.
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