MUMBAI: Private equity fund ChrysCapital is investing up to $100 million in New Delhi-based eyecare chain Centre For Sight (CFS) through a mix of primary and secondary transactions.
As part of the deal, ChrysCapital – through its affiliate funds – will acquire the entire 30.8% stake held by Mahindra Holdings, a wholly-owned subsidiary of Mahindra & Mahindra, in the company, an exchange filing showed.The PE firm did not comment on the specifics of the primary and secondary deal value but M&M said in a filing that the secondary transaction amounts to about Rs 425 crore.
ChrysCapital will acquire a significant minority stake in the eyecare chain through the deal. Founded in 1996 by ophthalmic surgeon Dr Mahipal S Sachdev, CFS has 83 centres across 15 states and 39 cities including Delhi, Rajasthan, Gujarat and Telangana as of March 2024. Organised branded chains like CFS are expected to gain market share from standalone clinics.
As part of the deal, ChrysCapital – through its affiliate funds – will acquire the entire 30.8% stake held by Mahindra Holdings, a wholly-owned subsidiary of Mahindra & Mahindra, in the company, an exchange filing showed.The PE firm did not comment on the specifics of the primary and secondary deal value but M&M said in a filing that the secondary transaction amounts to about Rs 425 crore.
ChrysCapital will acquire a significant minority stake in the eyecare chain through the deal. Founded in 1996 by ophthalmic surgeon Dr Mahipal S Sachdev, CFS has 83 centres across 15 states and 39 cities including Delhi, Rajasthan, Gujarat and Telangana as of March 2024. Organised branded chains like CFS are expected to gain market share from standalone clinics.
