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Market Watch

Ranjan Pai

CEO and MD, Manipal Education and Medical Group

NationalityIndian

LeagueBusiness Leader

EducationMD Surgery, MAHE

Net Worth$1.3 billion (As of March 27, 2021)

Ranjan Pai's Assets:

Manipal Education and Medical Group

Ranjan Pai's Journey so far ...

Ranjan Pai grew up in the southern Karnataka town of Manipal and graduated from the Kasturba Medical College in medicine; he also has a degree in surgery
He went to the US to complete his fellowship in hospital administration and joined as MD of Manipal Hospital in Malaysia
Pai heads the Manipal Education & Medical Group (MEMG), a wholly-owned entity held by him and his family. MEMG also runs a chain of hospitals and educational institutions under the Manipal brand
Under the leadership of Pai, Manipal Group has diversified into hospitals, healthcare and education sectors. Launched in 1991, Manipal Hospitals is one of India's leading healthcare groups with a network of over 15 hospitals and 6 medical colleges
Pai expanded Manipal Group's presence globally by setting up educational institutes in Malaysia, Nepal, Dubai and Antigua; these institutes provide undergraduate, graduate and doctoral programmes
The Bengaluru-based billionaire's policies attracted private equity capital and top firms like America's TPG Capital and Singapore's Temasek Holdings invested in the group
In 2011, Pai and ex-Infosys CFO Mohandas Pai launched a venture capital firm, Aarin Capital with an initial fund of $100 million. The focus of the VC firm was on life sciences, technology and Internet sectors
They have invested in several start-ups like Wellthy Therapeutics, California-based medical technology company Insightra, bookadda.com, an online book retailer, and ed-tech startup Byju's
In 2012, Pai led Manipal Group in entering student living services to leverage on the country's young population and rising education
In 2018, Pai guided Manipal Group in acquiring a 51% stake in Cigna TTK Health Insurance and later that year made a bold bid to acquire Fortis Hospitals
Pai wanted the group to expand in North India and made a bid for Naresh Trehan-owned Medanta Hospital in 2019, but the deal did not materialise due to high valuations
He has a huge interest in stem cell research and set up a separate firm called Stempeutics, the firm has over 30 patents to its name

Before you go ...

Ranjan Pai is a foodie and he loves the food in Manipal
He founded the group's philanthropic arm, Manipal Foundation, which focuses on various social activities

Last Updated: 27/03/2021

Ranjan Pai News

Exclusive: Ronnie Screwvala’s Upgrad joins list of bidders for bankrupt Byju’s parent
Upgrad has submitted an expression of interest (EoI) to bid for Think & Learn, the bankrupt parent of edtech firm Byju's. This adds Upgrad to the growing list of potential bidders for the edtech firm’s assets. The firm is evaluating both the K12 business and the Aakash Educational Services unit, according to people familiar with the matter.
Billionaires eye RCB as Diageo reviews investment: Nikhil Kamath, Ranjan Pai, Poonawalla are potential bidders
Other big names that have indicated interest in acquiring RCB include a US-based PE firm, Adani Group, JSW Group led by the Jindal family, and Ravi Jaipuria of Devyani International Group.
Exclusive: Manipal group’s Ranjan Pai expresses interest in bidding for bankrupt Byju’s parent
Ranjan Pai’s Manipal Education & Medical Group (MEMG) has emerged as a potential bidder for Think & Learn, the bankrupt parent of edtech firm Byju’s, people briefed on the developments said. Prospective buyers will have the option to acquire either the entire Think & Learn, or select assets of the company, including its Aakash stake and other businesses such as GeoGebra, WhiteHat Jr and Toppr.
Aakash shareholders approve share capital increase ahead of rights issue
Raising the share capital is an important step before floating a rights issue. Glas Trust, which represents Byju’s US lenders, had earlier argued that the proposed rights issue would reduce the stake of Byju’s parent, Think and Learn, in the coaching centre operator from 25.75% to around 5%.
Ranjan Pai’s backed firm buys central Bengaluru bungalow for record Rs 166 crore, sets new benchmark
Bengaluru's luxury property market has set a new record with a Rs 165.66 crore bungalow sale on Lavelle Road, fetching an unprecedented Rs 64,166 per sq ft. This highlights a surge in ultra-luxury deals, with transactions in the Rs 40-60 crore bracket becoming common, signaling strong investor confidence and the city's maturing high-end housing segment.
CCI clears Manipal Group's stake purchase in Aakash Educational Services
The Competition Commission of India (CCI) has approved the Manipal Group's acquisition of a stake in Aakash Educational Services from founder JC Chaudhry. Manipal Health Systems and Manipal Education and Medical Group India (MEMG), affiliates of the Manipal Group, will acquire the shares.
KKR lends $600 million to Manipal Group
KKR has invested $600 million in debt funding into Manipal Group, a leading hospital chain in India. This financing, arranged by KKR Capital Markets, will support Manipal's expansion and growth plans by providing flexible capital. KKR's investment, made through its Asia Pacific Credit strategy, demonstrates its commitment to supporting high-quality companies in the region.
CCI approves Akasa Air stake sale, Quality Care-Aster deal
India's fair trade regulator, CCI, has approved proposals for Premji Invest, Ranjan Pai's family office, and 360 ONE Asset to acquire stakes in Akasa Air's parent company, SNV Aviation. This infusion of capital from marquee investors, including Azim Premji's global investment arm, aims to fuel the airline's ambitious growth plans.
Sekhar Garisa appointed managing director at Claypond Capital
Claypond Capital, Dr. Ranjan Pai's family investment office, has appointed Sekhar Garisa as Managing Director. Garisa brings two decades of experience from companies like Quess Corp, Microsoft, and P&G. He aims to make Claypond Capital the preferred partner for Indian entrepreneurs, emphasizing an 'Entrepreneur First approach' with long-term commitment.
LIC set to buy 40-49% stake in ManipalCigna; primary and secondary deal values company at Rs 3,500 crore
Life Insurance Corp of India (LIC) is preparing to acquire a 40-49% stake in ManipalCigna Health Insurance, entering the standalone health insurance market. The deal, involving fresh capital infusion and some secondary share sales, is expected to disrupt the market significantly given LIC’s extensive distribution network and financial strength.
Aakash Educational Services seeks investigation into Byju's insolvency proceedings
Aakash Educational Services has approached the National Company Law Tribunal to investigate alleged discrepancies in the insolvency resolution proceedings of Byju's parent company, Think & Learn. The company also urged an investigation into the conduct of key parties involved. Several entities and professionals named as respondents in the petition have not responded yet.
Glas Trust approaches NCLAT seeking to be heard in Aakash case
Glas Trust, representing Byju’s US lenders, seeks an NCLAT hearing on Aakash Institute’s governance changes. Despite Blackstone withdrawing its petition, Glas Trust argues for interim relief. The tribunal will hear the case on March 17.
Premji Invest, Ranjan Pai family office seek CCI nod to acquire stakes in Akasa Air
Tech tycoon Azim Premji's global investment arm and the Manipal Group Chief Ranjan Pai's family office have sought CCI approval to acquire stakes in Akasa Air's parent company, SNV Aviation. The proposed transactions aim to boost Akasa Air's ambitious growth plans, enhancing customer experience and supporting international expansion.
Aakash, Blackstone, Manipal Group oppose Glas Trust’s intervention in minority rights suit
The coaching operator urged the bench to reserve the order but the bench declined to do so.
Akasa Air well-capitalised, set to expand with new destinations: CEO
Akasa Air, India's youngest airline, is well-capitalized and plans to expand with 5-10 new destinations, including international routes, next year. CEO Vinay Dube emphasized the airline's strong financial stability and a robust growth outlook despite minor delays in aircraft deliveries.
Why Premji-Ranjan Pai are betting millions on Akasa Air
Akasa Air, a new budget carrier, is securing substantial investment from prominent family offices amidst a challenging Indian aviation sector. Despite industry losses and competitive pricing, Akasa aims to expand its fleet and network, fueled by this new funding and its rapid growth.
Bengaluru techie loses Rs 91 lakh in stock market fraud, Nithin Kamath dreads AI use
Nithin Kamath expressed concern over increasing online investment scams, especially with the potential use of AI by fraudsters. He advised users to change their WhatsApp and Telegram settings to prevent unauthorized group additions. Kamath highlighted the recent Rs 91 lakh loss by a Bengaluru techie as a cautionary tale.
NCLT refrains Byju's Aakash Institute from tinkering with minority shareholders rights
The subsidiary of Think and Learn is trying to take away the rights of minority shareholders by amending the articles of association and conferring special rights on the major shareholder, Ranjan Pai’s Manipal Education and Medical Group, which holds about 40% stake in Aakash.
Byju's lenders oppose Aakash EGM on Wednesday
Questions resolution professional’s nod for Byju Raveendran to represent Think & Learn on Aakash’s board; says it violates the principle of protecting the maximum value of assets as laid down in the Insolvency and Bankruptcy Code.
Easy Home Finance secures $35 million from Ranjan Pai’s Claypond Capital, others
Existing investors Xponentia Capital, Finsight Ventures, Harbourfront Capital, and Pegasus India Evolving Opportunities Fund, participated in the funding round of the home financing startup.
Ranjan Pai, Cipla family eye stake in Zepto; startup moves NCLT to shift domicile
Zepto’s latest fundraise from local family offices and high-net-worth individuals (HNIs) for up to $150 million – first reported by ET on October 17 – is expected to be closed by the end of this month. “We are doing this fundraise to start building Indian ownership in the company and deepen our relationships with high quality domestic investors before we kick off an IPO process,” Zepto’s funding presentation, reviewed by ET, said.
Premji Invest, Ranjan Pai look to invest $125 million in Akasa Air
Premji Invest and Claypond Capital discussed a $125 million investment for a minority stake in Akasa Air, valuing the airline at over $350 million. This funding would help Akasa expand and manage aircraft payments. The Jhunjhunwala family and CEO Vinay Dube's stakes will be partially diluted, with the Jhunjhunwala family remaining the largest shareholder.
Azim Premji & Ranjan Pai's consortium looks to board Akasa Air with $125 million investment
Premji Invest and Claypond Capital are in discussions to invest approximately $125 million for a significant minority stake in Akasa Air, valuing the airline at over $350 million. This investment demonstrates confidence in Indian carriers, historically struggling to attract interest. The funds will support expansion and aircraft pre-delivery payments, diluting the Jhunjhunwala family and CEO Vinay Dube's stake. The investors are optimistic about Akasa's potential in the Indian market.
Ranjan Pai’s stake buy in Byju's Aakash Educational Services gets CCI green signal
The board of Byju’s-owned Aakash Institute earlier approved the conversion into equity of the $300 million Ranjan Pai, chairman of Manipal Education and Medical Group, invested in January 2024. ET had earlier reported that Pai had started distancing himself from thetroubled edtech firm Byju's.
Biotech firm Vyome Therapeutics to go public via reverse merger with Nasdaq-listed Reshape Lifesciences
Vyome Therapeutics, a biotech company backed by Manipal group chief Ranjan Pai, will go public in the US through a reverse merger with US-based Reshape Lifesciences. Pai, along with investors Remus Capital and Iron Pillar will invest at least $7.3 million in the merged entity through a private placement.
KITES Senior Care and Columbia Pacific Communites set to merge for one of India's largest senior living firms
Columbia Pacific Communites is set to merge with Kites Senior Care, forming one of India's largest senior living firms. The merger is expected to benefit Columbia Pacific Communities, which has a net worth of over Rs 25 crore. The merger is expected to boost the company's bed capacity to over 1,000 within the next six quarters. Kites Senior Care, a leading provider of out-of-hospital geriatric care services, secured an investment of Rs 45 crore from Ranjan Pai's MEMG Family Office Fund in March 2024.
Unicorn sightings become rare as VCs shun that leap of faith
Investors are going back to the same list of startups they have already backed to write bigger cheques leading to new unicorn sightings becoming rare. Only Perfios and Ola founder Bhavish Aggarwal’s Krutrim AI have become unicorns so far in 2024, and the number was the same for the whole of 2023.
Premji Invest eyes Nainital Bank stake; Ranjan Pai may back Rupeek
Happy Friday! Azim Premji’s family office is eyeing a majority stake in Bank of Baroda-owned Nainital Bank. This and more in today’s packed edition of ETtech Morning Dispatch.
Dr Ranjan Pai joins JSW One Platforms as independent director on its Board
JSW One Platforms, a division of JSW Group, has appointed Dr. Ranjan Pai as an independent director on its Board. Dr. Pai, known for his expertise in education, healthcare, entrepreneurship, and investment, aligns with the company's focus on driving innovation and value creation.
Aakash Chaudhry won’t return to Byju’s; Alteria’s Rs 1,550 crore Fund-III
Happy Thursday! Talks between Aakash Institute promoters and Byju’s on Aakash Chaudhry’s return to helm the coaching firm have failed. Details on this and more in today’s ETtech Morning Dispatch.
Exclusive: Chaudhry unlikely to return to steer Byju's-owned Aakash Institute
Aakash Institute, under Byju's, shifts focus from Aakash Chaudhry's return as CEO. Ranjan Pai emerges as the largest investor, with ongoing legal battles and stalled stock-swap. Byju Raveendran and Anup Kumar Agrawal contribute to daily operations.
CCI clears Ranjan Pai’s investment in PharmEasy
Ranjan Pai invests in PharmEasy's funding with 360 One. API Holdings board seats acquired. Rights issue resolves debt. Monthly burn reduction and strategic direction expected.
Elderly care startup Kites Senior Care raises Rs 45 crore in funding from Ranjan Pai
The funds will be used to deepen its presence in cities like Bengaluru, Hyderabad, Chennai, while also facilitating expansion into three additional cities across Southern India, the company said.
White knight in control? Ranjan Pai seen setting course at Aakash
Byju’s investors are reconciled to his acquisition of 40% in Aakash, the people said, adding that the Manipal Education and Medical Group chairman has also invested an additional Rs 250 crore as working capital and to pay salaries.
Pulsar Capital-owned TruDoc buys Mumbai's Wellthy Therapeutics
Wellthy Therapeutics is backed by Ranjan Pai, GrowX and BeeNext. TruDoc Healthcare, the leading telehealth and virtual care provider in the GCC, has acquired Wellthy Therapeutics, a Mumbai-based platform specializing in chronic disease management. Wellthy, a digital therapeutics company, focuses on developing and deploying digital therapeutic solutions across various medical fields, including cardiology, nephrology, and diabetes.
Byju’s asset sale hangs fire amid investor flare-ups
Unlike Epic — which is also on the block — the sale of Great Learning is being overseen directly by its founder Mohan Lakhamraju, along with the TLB investors. Byju’s is seeking around $600 million from sale of the higher education asset but is yet to find a buyer with a binding term sheet.
Time for a reset: Paytm’s opportunity to get back to basics; and other top stories this week
The stringent action by the Reserve Bank of India (RBI) against Paytm Payments Bank could have a positive fallout. It can actually push One 97 Communications, which runs Paytm, to focus on what it does best — build distribution. It can also focus on technology and product development like it did with Soundbox — a desi way of reducing fraud and confirming merchant payments.
Court relief for Byju’s in TLB lenders’ suit
The lenders of Byju’s $1.2 billion term loan had moved the city court last Thursday seeking an ex-parte injunction on the transaction allowing Ranjan Pai to convert a loan of about $250-$300 million he had advanced to the brick-and-mortar coaching network into equity in Aakash Institute. Thursday’s legal challenge by the TLB lenders caught both Byju’s and Pai “by surprise”.
Temasek sells minority stake in Manipal Hospitals
Temasek will continue to hold a majority stake in Manipal Health Enterprises, it has onboarded new investors such as UAE sovereign wealth fund Mubadala, Denmark-based Novo Holdings and California pension fund CalPERS.
A reset is on cards at Byju’s cap table post rights issue value cut
Depending on the final set of investors subscribing to the share sale, Byju’s founder Byju Raveendran may also end up owning more in the co if he manages to arrange capital for the financing.
Meesho’s fintech bet; Byju’s valuation crashes 99%
Ecommerce firm Meesho is diversifying revenue streams via two new business lines. Details of this and more in today’s ETtech Morning Dispatch. Multiple people aware of the developments told ET that Meesho wants to restart grocery delivery in a couple of cities, beginning from the next financial year.
Ranjan Pai may put $50-60 million more to grow Byju’s Aakash
Manipal chief Ranjan Pai will invest the new tranche of capital sooner in Aakash ahead of key student enrolment season, people aware of the discussions said. Sources at Aakash also said the coaching unit will require additional investment from Pai for it to be able to run operations and scale the business during the next few months when students enroll in these centre.
US lenders drag Byju’s to bankruptcy court in India
The lenders have been in negotiation with the company over prepayment of a $1.2 billion term loan taken by its US subsidiary, Byju's Alpha, even as the two sides also continued to fight a legal battle in US courts.
Ranjan Pai’s big Aakash stake; Meesho, Pine Labs fair value cut
Manipal group head Ranjan Pai will soon become the largest shareholder in Aakash—one of the few remaining valuable assets of troubled edtech Byju’s. This and more in today’s ETtech Morning Dispatch.
Ranjan Pai turns white knight for Byju’s with 40% stake in Aakash
The Aakash board has approved the conversion into equity of the $300 million Pai invested during 2023, they added. This values the company — one of the remaining valuable assets for Byju Raveendran’s troubled edtech group — at around $700 million and renders it debt-free.
Byju’s-owned Aakash Institute reports 82% rise in FY22 profit to Rs 79.5 crore
Operating revenue during the period grew 45% to Rs 1,421 crore, as per the company’s filings with the Ministry of Corporate Affairs on Saturday. It has not yet filed its FY23 numbers.
Manipal Tech, India's largest banking & smart cards manufacturer, looks to raise Rs 1,000 cr
Initially, this proposed transaction will give an exit to a few minority shareholders - family members who own about 20% stake in the parent company MTL. Besides the secondary stake sale, about 5-10% primary shareholding will be sold to meet expansion plans, sources aware of the initiative told ET.
Inside Ranjan Pai’s plan for his family office; the state of Silicon Valley amid AI frenzy
Manipal Group’s Ranjan Pai, who has been in the news for bailing out troubled startups such as Byju's and PharmEasy, is putting together a team to capitalise on attractive valuations. This and more in today’s ETtech Morning Dispatch.
Ranjan Pai has a ‘Powar’ plan for family office Claypond Capital
Claypond Capital, Pai's family office, is in talks with veteran banker Shyam Powar to head the family investment office as the Manipal chief sharpens his focus on the internet economy.
Ranjan Pai rides to Byju’s rescue; Ten IT firms to secure PLI nod soon
Manipal Group boss Ranjan Pai has pumped Rs 1,400 crore into Bjyu’s subsidiary Aakash Institute, enabling the embattled edtech major to clear its debt to Davidson Kempner. This and more in today's ETtech Top 5.
Ranjan Pai cuts Rs 1,400 crore cheque for Davidson Kempner debt, books Aakash seats
In May, Byju’s had signed a Rs 2,000-crore ($240 million) structured credit deal with Davidson Kempner against the cash flows of Aakash Institute.
PharmEasy CEO has three-year lock-in, Ranjan Pai to get three board seats
Pai is also joining the board of PharmEasy and is expected to work with CEO Shah. He will retain the board seats as long as his holding doesn’t go below 15%, people in the know added. His family office is investing around Rs 1,300 crore in PharmEasy.
Ranjan Pai invests in beauty etailer Purplle; Skyroot gets Temasek boost
Ranjan Pai's investment spree continues as the chairman of the Manipal Education and Medical Group has now invested in omnichannel beauty retailer Purplle. Details on this and other major startup deals in today's ETtech Top 5.
Manipal Group's Ranjan Pai invests in omnichannel beauty retailer Purplle
In May, ET had reported that JSW Ventures had partially sold its stake in Purplle to Abu Dhabi Investment Authority (ADIA). At the time, the startup closed a $40-50 million funding round, split between primary and secondary transactions, at a flat valuation of $1.1 billion.
Ranjan Pai closes in on $300 million Aakash deal; tech firms face Israel crisis
In what could be a shot in the arm for Byju’s, Manipal Education and Medical Group chairman Ranjan Pai may invest as much as $250-300 million in Aakash Institute, a subsidiary of the troubled edtech firm. This and more in today’s ETtech Morning Dispatch.
Manipal group's Ranjan Pai likely to invest $250-300 million in Byju's subsidiary Aakash Institute
The initial $170 million tranche will pay off Davidson Kempner debt; the Manipal chairman may rope in more PEs.
The Pai-and-Kamath way to startup investing; and other top tech stories this week
Bluestone is only the latest in the list of investments by Pai and Kamath, but this marks the growing pace at which they are signing new cheques at a time mid-to-large scale startups are finding it hard to score new funding.
ET Startup Awards 2023: What the jury said about winners and nominees
After more than two hours of deliberations on the basis of an 87-page dossier, the high-powered jury for the Economic Times Startup Awards 2023 selected the eight winners from a cohort of 38 nominees.
Three Indian family offices pick up Rs 435 crore SoftBank stake in IPO-bound FirstCry
SoftBank, which held 29% in the company, is believed to have diluted its stake by about 1.5-2% as part of the secondary share sale.
Ranjan Pai in talks for stake in FirstCry; IT hardware firms may get more time for local manufacturing
Manipal Group chairman Ranjan Pai is likely to pick up a stake in FirstCry, as part of a secondary share sale. Pai’s Rs 250 crore investment could come at a valuation of about $3 billion for the Pune-based ecommerce firm looking to file its draft IPO papers before the end of this year. All this and more in today’s Morning Dispatch.
Exclusive: Manipal Group’s Ranjan Pai in talks for stake in FirstCry
Pai is expected to invest around Rs 250 crore in the ecommerce firm as part of a broader secondary share sale at FirstCry at a valuation of close to $3 billion, sources said.
Gaurav Trehan elevated, to head KKR Asia PE biz
Trehan, a die-hard Liverpool football fan and tennis enthusiast, joined KKR to head its India private equity business in 2020, after a 16 year stint at TPG.
Private equity vital for faster growth of healthcare: Ranjan Pai
"Private healthcare in India needs a lot of capital. It will come in the form of either large conglomerates' investments or from the private equity funds. In that sense, private equity money is a vital ingredient for the faster growth of the industry, Pai said.
Temasek acquires additional 41% stake in Manipal Health Enterprises
Singapore's Temasek is to take control of Bengaluru-based Manipal Health Enterprises after acquiring a 41% stake in the chain. Following the deal, Manipal Group will hold about 30% of MHE, while Temasek's subsidiary Sheares Healthcare Group will keep its existing 18% stake, and TPG will hold 11% via TPG Asia VIII. News reports state the acquisition values the hospital chain at $5bn.
Singapore's Temasek buys majority stake in Manipal Hospitals for $2 billion
Temasek Holdings has acquired a 59% stake in India's Manipal Health Enterprises for Rs 29,000 crore ($3.6bn), valuing the Indian hospital chain at the same amount, according to people with knowledge of the development. Temasek-owned Sheares Health initially held 18% of Manipal, with the additional 41% bought from existing investors and promoters. After the deal, existing Promoter Ranjan Pai & family's Manipal Health stake will be lowered to 30% while existing investor TPG's share is reduced to 11%.
Temasek may close deal with Ranjan Pai for Manipal Health within 4 weeks
The transaction will consummate only after a nod from the Competition Commission (CCI), they said. Pai currently holds a 51% in MHE, followed by 20% by PE fund TPG Group, 18% by Temasek, 10% by National Investment & Infrastructure Fund (NIIF) and 1% by employees.
Manipal's Pais look to raise $500 million, talks on with Barclays, Deutsche, DBS, Nomura & Stanchart
The proposed transaction is likely to value Manipal Hospitals at around ₹18,000 crore, said a second person. If the deal fructifies, it will yield a near three-fold return for the US PE firm on its seven-year-old investment.
Ranjan Pai's family office invests Rs 40 crore in Finnable
Finnable has built a digital lending platform that approves loans in real-time to customers who are unable to approach the banks for their immediate loan requirement
KKR launches late bid for Trehan’s Medanta
KKR swooped down with a late bid after Manipal’s negotiations ran into valuation differences.
3one4 Capital leads $3 million Series A funding round in BetterPlace
As part of the Series A round, the company’s existing investors, Unitus Ventures and Venture Highway, have also participated.
Between TPG and Manipal, we are looking at investing Rs 4,500-5,000 cr in Fortis: Ranjan Pai
“We are offering to take the responsibility of buying out the SRL private equity minorities directly.”
Won’t pursue irrational bid for Fortis: Manipal Hospitals CEO
Manipal, backed by private equity firm TPG, sweetened the offer price for Fortis Healthcare to Rs 155 apiece, up from Rs 130 announced barely a fortnight back.
Manipal Health offers Rs 31.54 crore for Fortis Malar shares
The open offer has been triggered following an announcement that Fortis Healthcare Ltd would be demerging its hospital business and merging it with Manipal in a Rs3,900 crore deal backed by Manipal promoter Ranjan Pai and Private Equity firm TPG.
Fortis has not been undervalued: Ranjan Pai, Chairman, Manipal Group
Ranjan Pai, chairman, Manipal Group, said in an interview that over the next few weeks, he will reach out to investors to allay their concerns.
Pai family, others put Rs 13.5 crore in Wellthy Therapeutics
The Mumbai-based firm plays into digital therapeutics, enables treatment of type-II diabetes using a hybrid of AI and human paramedical coaches to improve health literacy.
Underwater robotics startup Planys Technologies raises Series-A funding
This funding round will help Planys expand its robotic fleet, fund product development and scale up its operations.
This startup is selling tractors in rural Karnataka through a missed call
Once a consumer enters the VR mall, all he or she needs to do is gaze at any section, say mobiles or cars, that interests them, and options open up.
Goldman Sachs may back Manipal’s student living services business
Manipal Education and Medical Group runs premium student hostels under Yoho brand with an existing capacity of more than 5,000 beds across multiple cities.
iGenetic diagnostics raises Rs 130 crore from CDC Group Plc and Manipal Group
This marks the investment debut of CDC Group and MEMG after they launched a Rs 500 cr fund for healthcare-focused investments beyond the conventional hospital services as reported by ET last week.
Stempeutics: The startup which uses donor stem cells to treat peripheral artery disease
Another company which works in a similar space in India include Kasiak Research, which is a part of Bharat Serums and Vaccines (BSVL).
Rs 250 cr fund 'Neev' announced for small realty developers; Mohandas Pai among co-founders
The sources added all the five partners have pooled in 35% of the first fund while the remaining would be contributed by HNIs.
Corporate hotshots like Azim Premji, Narayana Murthy's family offices on the rise
Azim Premji, Narayan Murthy, SD Shibulal, Kris Gopalakrishnan, the Burmans, the Sundarams, Ajay Piramal and Patni brothers keep some of the largest family offices in the country.
Manipal’s Ranjan Pai partners ex-Deutsche banker’s NBFC
Pai is partnering ex-Deutsche banker Bhupinder Singh's non-bank finance company where the German lender's former CEO Anshu Jain is a minority partner.
We’re checking the health of insurance sector for play: Ranjan Pai, Manipal Education and Medical Group
Billionaire CEO Ranjan Pai speaks about the company’s current strategy, potential startup exits in the near future and the overall investment environment
Need to provide affordable housing on city outskirts: Ranjan Pai, Manipal Education and Medical Group
'It has a cosmopolitan mix of people, lots of high quality professionals and good middle-class values. '
Manipal to buy diagnostic chain Medall in Rs 1,000-crore deal
Manipal Education and Medical Group, spearheaded by billionaire Ranjan Pai, is set to acquire Medall Healthcare, a southern diagnostics chain.
TPG Capital Management invests Rs 900cr in Manipal Health
Part of billionaire Ranjan Pai's Manipal Education and Medical Group, Manipal Health owns and operates over 5,200 beds across 16 hospitals in India.
Ranjan Pai joins Vyome board
Vyome Biosciences today said Managing Director and CEO of Manipal Education & Medical Group Ranjan Pai has joined its Board of Directors.
Unitus Seed Fund leads funding round in Blowhorn
According to industry estimates, the country’s highly-fragmented mini-truck transportation industry is valued at between $4.8 billion and $9 billion.
Billionaire Ranjan Pai invests in Careers360
The five-year-old firm helps over eight million students evaluate, compare and purchase education products and services like admissions, test preparation and counselling.
Unitus Seed Fund invests in Bangalore company Jiffstore
"We see a fantastic opportunity for a costeffective m-commerce solution to automate these shops and help them compete,” said chief executive, Jiffstore.
Unitus Seed Fund invests undisclosed amount in Smile Merchants
Unitus Seed Fund invested undisclosed amount in Smile Merchants, to increase its healthcare investments in India.
Tandem Capital launches third seed-stage fund, announces investment in Shoptimize
Silicon Valley-based mobile technology-focused accelerator, Tandem Capital, announced its first investment from the new fund in Pune-based startup Shoptimize.
Startup accelerator Tandem Capital launches operations in India
Tandem Capital's Indian operations are backed by former Infosys director Mohandas Pai and Manipal Group scion Ranjan Pai.
Entrepreneurs who made big exits and turned active investors
Rather than route their investment through secondary vehicles like mutual funds, they are floating their own primary vehicles.
TV Mohandas Pai, Ranjan Pai to join Vinod Khosla; to invest $2 mn in Unitus' fund
Manipal group scion Ranjan Pai and former Infosys director TV Mohandas Pai are joining Vinod Khosla as investors in a new fund being set up by Unitus.
TV Mohandas Pai and partner Ranjan Pai invest $35 mn in two Indian and two US-based companies
Former Infosys director TV Mohandas Pai and his partner Ranjan Pai have made the first investments from their Rs 500 crore private equity fund.
Cipla Q2 net up 17.47 pc to Rs 308.97 cr
The company had posted a net profit of Rs 263.01 crore for the quarter ended September 30, 2010 Cipla said in a filing to BSE.
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