Three global private equity giants Warburg Pincus Llc, Carlyle Group and TPG Growth are in independent talks with Indira IVF for buying out a minority stake in the venture. Indira IVF Hospitals Pvt Ltd., is a chain of infertility clinics in north India.
Founded by Dr Ajay Murdia in 1988 in a two room set up in Udaipur, Indira IVF is now eyeing a valuation of $600-800 million (Rs4,000-5,300 crore). Sources close to the deal say that promoters may be diluting 10-20% stake in the deal. Indira IVF has an EBIDTA of Rs 250 Crores and is highly profitable.
As per sources, private equity funds are being advised by KPMG and a boutique investment bank, o3 Capital.
Started in Udaipur, Indira IVF has now grown to centres in Ahmedabad,Agra,Delhi,Jaipur, Indore, Kolkata, Nasik and Pune, Ahmedabad.