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November 26, 2015 11:28 AM ET

Capital Markets

Company Overview of India Venture Advisors

Company Overview

India Venture Advisors is a private equity and venture capital arm of Piramal Enterprises Limited specializing in growth capital investments. It seeks to make investments in the healthcare, pharmaceuticals, education, social infrastructure resources, and life sciences sectors. The firm prefers to invest in India in tier-2 and tier-3 towns. It invests between INR30 crores ($5 million) and INR 100 crores ($16.79 million). The firm prefers to acquire minority stake between 10 per cent and 30 per cent and seeks to exit its investments within seven and nine years. India Venture Advisors was founded in 2007 and is based in India.



Founded in 2007

Key Executives for India Venture Advisors

Co-Founder and Executive Chairman
Age: 69
Age: 59
Compensation as of Fiscal Year 2015.

India Venture Advisors Key Developments

MedPlus Health Services Reportedly Up For Sale

MedPlus Health Services Pvt. Ltd. has reportedly restarted talks for a possible sell-off. General Atlantic LLC and Bain Capital, LLC are in discussions to acquire the business. Three PE investors together hold 69% stake in MedPlus while Madhukar Gangadi, Founder and Chief Executive Officer, MedPlus, holds the rest. The existing investors, Mount Kellett Capital Management LP, TVS Capital Funds Limited and Ajay Piramal’s India Ventures Advisors I, put their stake on the block sometime back. Of the 69% stake held by investors, Mount Kellett holds 49% through its arm MKCP Direct Investments (Mauritius) IV Ltd, TVS Capital’s TVS Shriram Growth Fund I holds 10.59% and India Venture Advisors' India Venture Trust Fund-I holds 9.09%, according to a company balance sheet. MedPlus is looking at a valuation of INR 25 billion. Credit Suisse Group AG (SWX:CSGN) is advising MedPlus Health Services on the sale process.

MedPlus Health Services Reportedly Up For Sale

MedPlus Health Services Pvt. Ltd. reportedly is up for sale. Madhukar Gangadi, Founder and Chief Executive Officer of MedPlus Health Services, along with a clutch of private equity investors including Mount Kellett Capital Management LP, TVS Capital Funds Limited and India Venture Advisors have put MedPlus Health Services up for sale. Credit Suisse Group AG (SWX:CSGN) has been appointed to look for strategic buyers and buyout funds who can acquire a controlling 51% to 74% stake in the Hyderabad headquartered chain. Medplus was earlier looking to raise fresh capital but now the mandate has changed to a potential outright sale, one of the sources mentioned above said. Source added, domestic players and buyout funds have already been approached. "The investors want to exit. There will be some primary issuance of equity as well. After this the promoter's stake will come down to around 26%," another person aware of the developments said. With revenues of around INR 12 billion to INR 13 billion, the investors and promoters are expecting a significant premium of two times sales, valuing the company at around INR 27 billion, said three persons with direct knowledge of the matter. The company management has decided not to respond to the queries. Madhukar Gangadi too did not want to respond.

IVA Planning To Exit Three Investments

India Venture Advisors (IVA) of Piramal Enterprises Limited (BSE:500302) is planning to exit three of its investments made from its maiden fund. IVA would exit its investments in Sri Kavery Medical Care (Trichy) Pvt. Ltd. and Dr. Ramesh Cardiac and Multispeciality Hospital P Ltd., and MedPlus Health Services Pvt. Ltd. India Venture is likely to realize a return of about 25% through the exit of three investments. A.K. Purwar, Chairman at IVA said, “We are in the process of exiting from some of our investments.” Mint reported on July 29, 2014 that Kavery is looking to raise INR 1.8 billion and INR 2 billion in growth capital and to provide an exit to IVA.

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