CK Birla Healthcare, part of the $3-billion CK Birla Group, plans to raise around $150 million (₹1,250 crore) by selling a minority stake in the company. They have hired Kotak Mahindra Capital to help with this fundraising and are in early discussions with both global and local investment funds. The exact size of the stake sale is not yet known, and CK Birla Healthcare did not comment on the matter.
CK Birla Healthcare operates five hospitals in Gurugram, Delhi, Kolkata, and Jaipur, along with infertility clinics under the Birla IVF brand, which has about 37 centers nationwide. The company owns a 440-bed hospital in Kolkata and a 150-bed heart research center, and plans to open 15 more hospitals, each with 80-100 beds, in the coming years.
The funds raised will not only help with expansion but also pay down existing debt, which was ₹454.70 crore as of March 2024. This includes unsecured loans of ₹163.30 crore from group companies and lease liabilities of ₹181.56 crore. In FY24, CK Birla Healthcare’s revenue grew by 34% to ₹294 crore, mainly due to strong performance in its hospital segment, which made up 75% of total revenue. The company entered the IVF business in 2021 and added 10 IVF centers last year, contributing to its revenue growth.
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