Cyril Amarchand Mangaldas (CAM) on 30-09-2025 advised Manipal Hospitals Private Limited (“Issuer”) in connection with its issuance of listed, rated, non-convertible debentures on a private placement basis for amount aggregating to INR 5310,00,00,000 (“NCDs”) to DBS Bank, Deutsche Bank, SMBC, MUFC Bank and BNP Paribas. The proceeds of the NCDs will be utilised by the Issuer to acquire Sahyadri Hospitals Private Limited (“Target”).
This is a landmark transaction that helps establish that Indian debt capital markets have the ability and depth to finance such large ticket acquisitions and is one of the largest acquisition financings in the Indian healthcare space.
The transaction team was led by Pranav Sharma, Partner; Sangita John, Partner; and Hariharan Kumar, Partner; with assistance from Daksh Mehta, Associate; Renuka Nevgi, Associate; and Aniket Nighojkar, Associate.
