MANIPAL GROUP
Ranjan Pai’s backed firm buys central Bengaluru bungalow for record Rs 166 crore, sets new benchmark
Bengaluru's luxury property market has set a new record with a Rs 165.66 crore bungalow sale on Lavelle Road, fetching an unprecedented Rs 64,166 per sq ft. This highlights a surge in ultra-luxury deals, with transactions in the Rs 40-60 crore bracket becoming common, signaling strong investor confidence and the city's maturing high-end housing segment.
Exemption of GST from life and health insurance premium to make products affordable: Insurers
The GST Council's landmark decision to exempt insurance premiums from GST is poised to revolutionize the insurance sector. Insurers hail this move as a game-changer, anticipating increased affordability and wider insurance penetration. This exemption, covering life and health insurance, aims to ease financial burdens and promote health security for citizens, potentially driving a shift towards accessible digital solutions.
Multibillion-dollar deals fuel pickup in India's mergers & acquisitions activity
Mergers and acquisitions in India are increasing. Cross-border deals and private equity funds are driving this growth. M&A volume has reached nearly $41 billion in 2025. Several major acquisitions have occurred recently, including Tata Motors' acquisition of Iveco Group's business. Private equity activity is at its highest. Local players are also increasingly active in M&A.
CCI clears Manipal Hospitals' proposal to acquire Sahyadri Hospitals
The Competition Commission of India (CCI) has approved Manipal Hospitals' acquisition of Sahyadri Hospitals from Ontario Teachers' Pension Plan Board for an estimated Rs 6,400 crore. This acquisition will expand Manipal's network to 49 hospitals with approximately 12,000 beds, solidifying its position as one of India's largest hospital chains and significantly increasing its presence in western India.
Indian firms tap bond market for acquisitions on mutual fund demand
Indian companies are increasingly turning to the bond market to finance acquisitions, planning to raise over $2 billion in the coming months. Mutual funds, flush with capital, are driving demand, stepping in where foreign lenders once dominated. This surge in acquisition financing has propelled corporate bond sales to a record high this year, exceeding previous figures by over 15%.
ET Soonicorns Summit 2025: Karnataka pushing ‘Beyond Bengaluru’, tier-II cities emerging as startup hubs, says Minister Sharan Prakash Patil
While speaking at the ET Soonicorns Summit 2025, the minister said that since 2020, Bengaluru has raised over $48.2 billion in startup funding, created 31 new unicorns, and today houses 85 soonicorns and 317 minicorns. The "Beyond Bengaluru" story is real, the minister noted.
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OpenAI says Namaste India; ET Startup Awards are back
OpenAI is hiring in India as it prepares to open an office in the national capital. This and more in today’s ETtech Top 5.
ET Soonicorns Summit 2025: Karnataka Deputy CM to unveil report on soonicorns and minicorns across priority sectors
DK Shivakumar, Deputy Chief Minister of Karnataka, is set to unveil the Economic Times Top Soonicorns and Minicorns of Karnataka 2025 report, based on data from January 1, 2020, to June 9, 2025, revealing 31 unicorns, 85 soonicorns, and emerging innovation clusters across five urban hubs.
Private credit investments up 53% in H1 led by SP Group deal
Private credit investments in India surged 53% to $9 billion in the first half of 2025, driven by Porteast Investments' record $3.1-billion deal. Adani Group, GMR Infra, and Manipal Group also raised significant funds. Private credit is gaining momentum as public sector banks and NBFCs reduce large exposures, filling funding gaps in infrastructure and real estate.
Manipal Hospitals seeks CCI nod to acquire Sahyadri Hospitals for about Rs 6,400 cr
Manipal Hospitals is planning to acquire Sahyadri Hospitals. The deal is estimated at around Rs 6,400 crore. Manipal has sought approval from the Competition Commission of India. This acquisition will significantly expand Manipal's presence in western India. It will also increase Manipal's total bed count to approximately 12,000. Sahyadri Hospitals currently operates 11 hospitals in Maharashtra.
Apollo entities seek CCI nod for recast plan
Apollo Group is seeking CCI's approval for a restructuring plan to list its omnichannel pharmacy and digital health businesses within 18-21 months. This involves merging Apollo's digital platforms and Keimed into Apollo Healthtech, creating a major player with ₹16,300 crore in FY25 revenues. Subsequently, Apollo Healthtech will acquire a 74.5% stake in Apollo Medicals.
CCI clears Manipal Group's stake purchase in Aakash, Bain Capital's deal with Manappuram Finance
The Competition Commission of India (CCI) has approved Bain Capital's stake acquisition in Manappuram Finance and Manappuram Asset Finance. Ranjan Pai-led Manipal Group's purchase of a stake in Aakash Educational Services from JC Chaudhry was also cleared. Furthermore, Alpha Wave Global's plan to acquire nearly 10% stake in Haldiram Snacks Food received the green light from the antitrust regulator.
CCI clears Manipal Group's stake purchase in Aakash Educational Services
The Competition Commission of India (CCI) has approved the Manipal Group's acquisition of a stake in Aakash Educational Services from founder JC Chaudhry. Manipal Health Systems and Manipal Education and Medical Group India (MEMG), affiliates of the Manipal Group, will acquire the shares.
KKR lends $600 million to Manipal Group
KKR has invested $600 million in debt funding into Manipal Group, a leading hospital chain in India. This financing, arranged by KKR Capital Markets, will support Manipal's expansion and growth plans by providing flexible capital. KKR's investment, made through its Asia Pacific Credit strategy, demonstrates its commitment to supporting high-quality companies in the region.
Manipal Group's diagnostic arm acquires Mumbai-based iGenetic
Manipal HealthMap has fully acquired iGenetic Diagnostics to strengthen its presence in Maharashtra, Madhya Pradesh, and Karnataka, and expand its pan-India reach. This acquisition aims to accelerate expansion to over 200 centers by 2027, enhancing their diagnostics portfolio in specialized testing areas.
Ranjan Pai has a ‘Powar’ plan for family office Claypond Capital
Claypond Capital, Pai's family office, is in talks with veteran banker Shyam Powar to head the family investment office as the Manipal chief sharpens his focus on the internet economy.
Manipal HealthMap completes acquisition of Hyderabad-based Medcis PathLabs
The combined entity will have a consolidated back-end operation of its labs at common locations of Pune, Delhi-NCR, Bengaluru, Kolhapur, and Nagpur. Medcis Pathlabs currently has 23 laboratories spread across the country.
Manipal Group launches test-prep app for NEET PG, NExT
The company has invested about Rs 60 crore in the development of MedAce and expects to invest another Rs 50 crore over the next year to develop the platform further, MaGE managing director and CEO Ravi Panchanadan told ET.
Temasek acquires additional 41% stake in Manipal Health Enterprises
Singapore's Temasek is to take control of Bengaluru-based Manipal Health Enterprises after acquiring a 41% stake in the chain. Following the deal, Manipal Group will hold about 30% of MHE, while Temasek's subsidiary Sheares Healthcare Group will keep its existing 18% stake, and TPG will hold 11% via TPG Asia VIII. News reports state the acquisition values the hospital chain at $5bn.
Manipal Group to up stake in Cigna TTK to 51%, TTK to exit biz
Manipal holds 19.52 per cent stake in the joint venture.
Manipal Group takes a stake in Cigna TTK
Cigna has received regulatory nod from IRDAI to partner with Manipal Group.
Fortis has not been undervalued: Ranjan Pai, Chairman, Manipal Group
Ranjan Pai, chairman, Manipal Group, said in an interview that over the next few weeks, he will reach out to investors to allay their concerns.
TPG Capital Management invests Rs 900cr in Manipal Health
Part of billionaire Ranjan Pai's Manipal Education and Medical Group, Manipal Health owns and operates over 5,200 beds across 16 hospitals in India.
PremjiInvest and TPG pump $300 million into Manipal Education and Medical Group
PremjiInvest, which has a corpus of $1 bn, invested $125 mn in Manipal Global Education Services, returning to the co 18 months after it sold its earlier investment in it.
Manipal Group ties up with Durban University of Technology for cooperation in education & training
Manipal Group, with the assistance of FirstRand Bank, has signed a MoU with Durban University of Technology in South Africa.
IDFC Alternatives invests Rs 100 cr in Manipal Group
Private equity player IDFC Alternatives today said it has invested Rs 100 crore in education major Manipal Group's management business.
Manipal Group to set up five new universities
Manipal Group is in active talks with Gujarat and Orissa governments for setting up universities in these states.
Mohandas Pai will assist new Manipal universities
He will be the chief architect of a multi-discipline university cluster being planned by Dr Ranjan Pai of Manipal Education & Medical Group.
Manipal group plans foray into stem cell banking
Adding one more dimension to its initiatives in stem cell research, the Manipal group is foraying into stem cell banking.
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