Healthcare Global Enterprises’ subsidiary -- HCG Manavata Oncology LLP has entered into an agreement to acquire 26% equity stake in Epic Vighnaharta Renewable Energy (EVRE) through subscription of equity shares for an aggregate consideration of Rs 38 lakh.
Following the completion of the acquisition, the HCG Manavata Oncology LLP will hold a 26% stake in EVRE, on a fully diluted basis, and consequently, the company will have an indirect interest of up to 26% in EVRE. The HCG Manavata Oncology LLP would acquire stake in EVRE to qualify as a captive user of the power plant operated by EVRE, so that EVRE can supply the electricity generated by plant to the HCG Manavata Oncology LLP for own use.
The acquisition is expected to be completed in Q2FY2027 upon fulfilment of the terms and conditions stipulated under the agreement executed for the acquisition of stake in EVRE by the LLP.
Healthcare Global Enterprises (HCG) is Bengaluru based provider of speciality healthcare in India focused on cancer and fertility. It operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed. It also operates fertility centres under the ‘Milann’ brand.
