{
  "id": 14595339,
  "title": "Novo Holdings, GIC, Axight look to back AIG Hospitals; Founders aim to pare 10-12% stake at Rs 24,000 cr valuation",
  "url": "https://urgent.news/2026/10/15/novo-holdings-gic-axight-look-to-back-aig-hospitals-founders-aim-to",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-15T02:00:37.000Z",
  "source": {
    "name": "ETHealthworld",
    "slug": "ethealthworld",
    "url": "https://health.economictimes.indiatimes.com/news/hospitals/novo-holdings-gic-axight-look-to-back-aig-hospitals-founders-aim-to-pare-10-12-stake-at-rs-24000-cr-valuation/134955249"
  },
  "original_language": "en",
  "account": "Mumbai: Novo Holdings, the parent company of Danish pharmaceutical giant Novo Nordisk, along with Abu Dhabi's Axight, and Singapore's GIC, the city-state's sovereign wealth fund, are in advanced talks with EQT to invest between Rs 2,000 crore and Rs 2,500 crore in AIG Hospitals, a Hyderabad-based multi-speciality hospital chain. The Swedish investment firm aims to transfer its four-year-old investment, as per sources familiar with the matter. This development marks a trend of private equity firms, such as Blackstone and KKR, investing in Indian hospitals, following a pattern they have employed in various countries for years.\n\nThe investment plan is spearheaded by AIG Hospitals' two promoters, Chairman and Managing Director Duvvur Nageshwar Reddy and Vice Chair Penmetsa Venkata Subbaraju. The move would entail a 10-12% reduction in their shares in the company, with the deal valued at Rs 22,000 crore ($2.29 billion) to Rs 24,000 crore ($2.5 billion). The AIG Hospitals deal was executed in 2022 by Baring Private Equity Asia (BPEA) Private Equity Fund VII. In October of the same year, BPEA merged with EQT to form EQT, which later renamed itself EQT. BPEA had acquired a nearly 40% stake in the company, while the remaining 60% was held by Reddy and Subbaraju.\n\nEQT and the founders have been collaborating with advisors Goldman Sachs and UBS to identify new investors and streamline the transfer process. The investors intend to approach EQT's limited partners (LPs) and healthcare-focused funds that can bring strategic value to the table. It is worth noting that both founders intend to retain their leadership roles in the company. Fund-to-fund strategies are gaining traction in the private equity industry, as they allow firms to hold on to valuable, challenging-to-sell assets for extended periods.\n\nEQT, Novo, GIC, and Axight did not respond to requests for comment. Axight did not provide any response to inquiries. Reddy could not be reached on his mobile. AIG Hospitals, established by Reddy in 1994 in Somajiguda, Hyderabad, was India's first dedicated day-care center for digestive disorders and specialized gastrointestinal care. The hospital operates across three units in Hyderabad, boasting more than 1,400 beds and over 350 ICU beds. In October, Reddy announced the company's intention to invest Rs 2,000 crore over the next five years to expand its capacity by adding 1,000 beds. The company anticipates a FY27 ebitda (earnings before interest, taxes, depreciation, and amortization) of Rs 800 crore, but the deal is contingent upon its FY28 ebitda estimate of Rs 1,000 crore.",
  "summary": "Novo Holdings and GIC are discussing investing Rs 2,000-2,500 crore in AIG Hospitals based in Hyderabad. The investment reflects a growing interest among private equity firms in Indian healthcare. Founders of AIG Hospitals, Duvvur Nageshwar Reddy and Penmetsa Venkata Subbaraju, are planning a stake sale. AIG Hospitals has plans for a new facility in Visakhapatnam and aims to grow significantly.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}