| | AUGUST 20239BPEA EQT, an Asia-focused private equity fund, will acquire approximately 60 percent of Indira IVF, India's largest provider of fertility services and one of the top five in the world in terms of annual IVF cycles. According to a company release, Indira IVF has facilitated 125,000 successful pregnancies to date.According to sources close to the transaction, the chain was valued at $1.1 billion (Rs 9000 crore).Global investors such as Baring PE Asia EQT and Blackstone have made non-binding bids to acquire a majority stake in Indira IVF, India's largest fertility clinic chain, valuing the chain at $1-1.2 billion, according to ET, which first reported on June 6. The new investor is expected to own approximately 60 percent of the company, with existing investor TA Associates selling its 47 percent stake and the promoters diluting additional stakes.TA Associates purchased approximately 35 percent of the company in 2019 for Rs 1,100 crore, and an additional 12 percent later. It is expected to seek a four-fold return on investment.Indira IVF posted revenue of Rs 1,250 crore in FY23 at an ebitda of Rs 375-410 crore, said people aware of the matter. The Indian IVF industry is a potential $12-billion market expanding at 20 percent CAGR, according to industry estimates. BPEA EQT TO ACQUIRE 60 PERCENT STAKE IN INDIRA IVFIN FOCUSThe Indian IVF industry is a potential $12-billion market expanding at 20 percent CAGR, according to industry estimates
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