Max India has entered into a deal to sell 26% stake in a subsidiary, Max Healthcare Institute, for Rs 516.5 crore to a South African company.
Talking about what probably one of the largest foreign direct investments in the healthcare sector in India, Rahul Khosla, managing director of Max India says the deal serves for both strategic partnership and brings very attractive financial valuations as well. "The inflow of a fresh injection of equity of Rs 516 crore will help us fund our expansion," Khosla says. Further, he says that the deal serves an opportunity to restructure the balance sheet. "We have the opportunity to retire some of our higher cost debt and also to avoid rights issue," he added. Below is an edited transcript of Rahul KhoslaDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
