Thursday, July 14, 2005
IFC to take up equity in Apolo
INTERNATIONAL Finance Corporation, the private equity arm of the World Bank, is expected to pick up equity stake in Apollo Hospitals Enterprise Ltd. IFC is expected to invest $20 million (Rs 90 crore). Apollo is raising about $70 million (Rs 315 crore) for its expansion programmes, which includes consolidation opportunities in India as well as ventures abroad. IFC's investment will support these programmes. By strengthening Apollo's branding of a leading healthcare network, the expansion programme is expected to raise the overall quality of private medical services delivery in India and have a strong demonstration effect throughout the region.