Global private equity fund Carlyle is looking to acquire a significant minority stake in Indegene Lifesystems, a healthcare IT firm backed by Infosys co-founder N.S. Raghavan, for $140 million (about Rs 1,020 crore) at a valuation of up to $600 million (about Rs 4,380 crore). It was reported by The Economic Times, which cited three people with direct knowledge of the development.
The total fundraise, including both primary and secondary components, is being pegged at up to $200 million (about Rs 1,460 crore). While Carlyle will invest $140 million, the remaining is expected to come from two other investors.
Meanwhile, healthcare services platform Phable has received fresh investments from Manipal Health Enterprises and US-based accelerator SOSV in its Series A round of funding, according to an Entrackr report, which cited regulatory filings.
Manipal Health led the funding round in the Bengaluru-based startup with an investment of Rs 42.61 crore (about $5.8 million), while SOSV invested Rs 2.92 crore (about $400,000).
The Singaporean carrier has, however, waived their no-compete clause, allowing the Tatas to go ahead with a solo bid for the stricken carrier.
A key reason for SIA’s reluctance is said to have been the long-term funding that Air India will need to return to viability, said the persons.
The government is expected to take the Air India sale process forward after shortlisting bidders for the airline by the end of the month, said the people cited above.
The Air India divestment has received expressions of interest from three entities, including the Tata Group.