Private Equity

PE Fund Investments

Temasek, InvAscent in talks to pick up minority stake in HealthKart at $300-M valuation

Economic Times  

Singapore's Temasek Holdings and Indian healthcare focused private equity firm InvAscent are in talks to acquire a significant minority stake in Bright Lifecare, which runs omnichannel health products store HealthKart, valuing the business at around USD 300 million (about INR 2,300-2,500 crore). The deal is likely to include a primary issue translating to 15-20% stake in the expanded capital base of Healthkart, while existing investors Sequoia Capital India, Omidyar Network (ON) and Kae Capital are likely to sell part stakes via a secondary sale. At present, Sofina, Sequoia Capital, Kae Capital, IIFL and Omidyar hold about 70% stake in HealthKart. While Sequoia and ON own about 45%, Kae holds about 10%.