Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Actis may sell Sterling Hospitals back to founder.


Date: 06-12-2013
Subject: Actis may sell Sterling Hospitals back to founder
MUMBAI: Private equity (PE) major Actis Capital is considering a sale of Ahmedabad-based Sterling Hospitals back to its founder Girish Patel and his family — also the erstwhile promoters of Paras Pharma — after a top bidder for the hospital chain lowered its acquisition price, multiple sources privy to the matter said.

Azim Premji and Temasek-backed HealthCare Global (HCG) had bid over Rs 450 crore after Sterling's controlling shareholder Actis mandated Kotak Investment Banking to sell the company. Ten days back, the Bangalore-based cancer care specialist dropped its offer price to Rs 325 crore, citing profitability concerns post a due diligence process, sources cited earlier told TOI.

Actis, an emerging markets-focused PE firm, owns an 80% stake in Sterling Hospitals leaving the rest with the Patel family, which had ceded majority control to the former in 2006. Now, Actis is mulling a sale back after its two successive attempts to find a buyer for Sterling Hospitals have gone awry.

When contacted by TOI, Girish Patel declined to comment on all queries regarding Sterling Hospitals, while Actis's South Asia head J M Trivedi said he did not want to respond to queries pertaining to investment and exit strategies.

Sterling Hospitals operates about 1,000 beds across Ahmedabad, Vadodara, Rajkot, Bhavnagar and Mundra SEZ in the prosperous western state of Gujarat. It had reported Rs 275 crore in revenues and Rs 25 crore of operating profit last fiscal. Sources said HCG lowered the valuation post due diligence citing Sterling's inability to meet projected operating profit and large investments it required to spruce up infrastructure in hospitals.

"Actis and HCG haven't snapped discussions, but clearly the former is exploring other options including selling it back to the founders," a source who did not want to be named said. HCG declined to comment on the development.

Source : timesofindia.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-09-2025
Corrigendum
Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Date: 17-09-2025
Notification No. 13/2025-Central Tax (Rate)
Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018.

Date: 17-09-2025
Notification No. 14/2025-Central Tax (Rate)
Seeks to notify GST rate for bricks.

Date: 17-09-2025
Notification No. 37/ 2025-Customs
Seeks to amend Notification No.19/2019-Customs dated 06.07.2019

Date: 17-09-2025
Notification No. 38/ 2025-Customs
Seeks to amend Notification No.29/2025-Customs dated 09.05.2025

Date: 17-09-2025
Notification No. 39/2025-Customs
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017

Date: 17-09-2025
NOTIFICATIONNo. 15/2025 – Central Tax
Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return.

Date: 17-09-2025
NOTIFICATION No. 16/2025–Central Tax
Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force.

Date: 17-09-2025
Notification No. 12/2025-Central Tax (Rate)
Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018.

Date: 17-09-2025
NOTIFICATION No. 14/2025 – Central Tax
Seeks to notify category of persons under section 54(6).



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001