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Financial Express

IIFL India PE Fund acquires majority stake in Infigo

IIFL Asset Management announced on Monday it has acquired a majority stake in Infigo Lifesciences through IIFL India Private Equity Fund.

Infigo Lifesciences is launching a chain of comprehensive specialty eye care centres, initially in western India. Infigo started with six centres – four eye care hospitals and two 3D eye clinics in Mumbai. Two more eye care hospitals are expected to open by August in Maharashtra, according to a statement.

The company plans to open a total of 15 centres within one year, with 10 centres in Mumbai and the remaining five spread across Maharashtra.

IIFL India PE Fund will look to invest up to Rs 70 crore in multiple tranches to pre-defined business milestones for setting up over 20 centres.

IIFL AMC launched the IIFL India Private Equity Fund, a close-ended Sebi-registered Category II alternative investment fund, in May 2018. The fund seeks to back professional entrepreneurs at an early stage in emerging sectors like healthcare, technology, financial services and consumer goods.

 

IIFL India PE Fund acquires majority stake in Infigo