Sequoia Capital could buy stake in Moolchand Hospital

Sequoia Capital has its eyes on the healthcare sector. CNBC-TV18 learns that the PE firm may be set to buy stake in New Delhi-based Moolchand Hospital.

This will be a one of a kind deal for Sequoia Capital. The two companies are almost in final phase of discussion and are very close to signing a deal where in Sequoia Capital will invest around Rs 100 crore in Delhi-based Moolchand Hospitals, reports Krithika Saxena.

Moolchand Hospital has been on the lookout to expand to other cities outside Delhi, such as Mumbai, Bangalore and a few other tier-I and tier-II cities. The amount that will be raised from Sequoia Capital will be utilized for this purpose.

CNBC-TV18 has learnt that the amount that they will be raising will basically be in the form of debt which can be translated into equity at a later date. This could be equity of up to around 10-15% and will be a fresh issue, not an existing one.

The deal is likely to be closed in another two week