HGC gains as KKR to acquire controlling stake in company
Healthcare Global Enterprises (HCG) is currently trading at Rs 514.30, up by 14.30 points or 2.86% from its previous closing of Rs 500.00 on the BSE.
The scrip opened at Rs 502.15 and has touched a high and low of Rs 535.00 and Rs 502.15 respectively. So far 40539 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52-week high of Rs 563.15 on 03-Feb-2025 and a 52-week low of Rs. 310.10 on 05-Jun-2024.
Last one week high and low of the scrip stood at Rs 535.00 and Rs 473.00 respectively. The current market cap of the company is Rs 7175.76 crore.
The promoters holding in the company stood at 71.23%, while Institutions and Non-Institutions held 15.71% and 13.06% respectively.
Healthcare Global Enterprises and KKR, a leading global investment firm, have signed definitive agreements with CVC, a leading global private markets manager, under which funds managed by KKR will become the largest shareholder in HCG and assume sole control of HCG’s operations.
As part of the transaction, KKR will acquire up to 54% of equity in HCG from CVC Asia V at a purchase price of Rs 445 per share. Pursuant to the Securities and Exchange Board of India’s (SEBI) Takeover Regulations, an open offer will be conducted by KKR to purchase additional equity shares in HCG from public shareholders. Upon completion of the transaction, KKR is expected to hold an equity stake of between 54-77%.
KKR makes its investment from its Asia Fund IV. This transaction marks KKR’s latest investment in India’s healthcare space. Past investments in this sector have included Baby Memorial Hospital, a leading regional multi-specialty hospital chains in India; Healthium, a leading Indian medical devices company; Infinx, a tech-enabled healthcare revenue solutions provider; Max Healthcare, one of India’s largest hospital networks; JB, a leading branded formulations pharmaceutical company in India and Gland Pharma, a leading Indian pure-play generic injectable pharmaceutical products company. The transaction is expected to close by the third quarter of 2025, subject to customary closing conditions and regulatory approvals.
Healthcare Global Enterprises (HCG) is Bangalore based provider of speciality healthcare in India focused on cancer and fertility. It operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed. It also operates fertility centres under the ‘Milann’ brand.
