Other Private Equity/Strategic Investments
Marengo Asia Healthcare in talks with Leapfrog, IFC, NIIF to raise Rs.500-Cr
Mumbai-based hospital platform Marengo Asia Healthcare is looking to raise between INR 400 crore and INR 500 crore by diluting a 10% stake. LeapFrog Investments, International Finance Corporation (IFC), and the National Investment and Infrastructure Fund (NIIF) are currently evaluating the opportunity to acquire a minority stake in the company. Avendus Capital is acting as the advisor to the transaction.Founded in 2020 by Raajiv Singhal, Marengo is an integrated platform of multi-specialty hospitals that provides tertiary and quaternary care. The company plans to use the proceeds from the fundraising to support growth, including inorganic expansion and the development of additional capacity at its facilities in Gurugram and Faridabad.Marengo operates over 2,500 beds across eight multi-speciality hospitals. The platform is currently backed by Samara Capital, which holds a 45.9% stake, along with the family offices of Havells and the Godrej Group, which collectively hold 40.6%.
In Oct 2021, Marengo Asia Healthcare was set up with an investment of $103 M from Samara Capital, Godrej Family Office, QRG and others.
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