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Article: WARBURG PINCUS HIKES STAKE IN INDIA'S MAX HEALTHCARE TO 23 PCT.
- Article from:
- AsiaPulse News
- Article date:
- June 7, 2005
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NEW DELHI, June 7 Asia Pulse - Warburg Pincus Monday enhanced its stake in Max Healthcare Ltd to 23 per cent with a second round of investment of Rs 1.15 billion (US$26.37 million).
The current round totalling Rs 1.15 billion is for Max Healthcare's 28.75 million equity shares of Rs 10 each at an issue price of Rs 40 per share.
"The latest fund infusion from Warburg Pincus is a part of the Rs 6 billion heathcare project of which we have now fully tied up the funding requirements," Joint Managing Director of Max India B Anantharaman said here.
The company is targeting a revenue of Rs 1.47 billion this fiscal year and expects to break-even in the ...