Deal Corner May 01, 2013
IL&FS Trust Company Limited, in its capacity as Trustee to IndiaVenture Trust – Fund I
IL&FS Trust Company Limited, in its capacity as Trustee to IndiaVenture Trust - Fund I, a scheme of IndiaVenture Trust ("IVT"), recently acquired a stake in Dr. Ramesh Cardiac & Multispecialty Hospital Private Limited ("DRCMH") through subscription of equity shares.
DRCMH currently operates 2 tertiary care hospitals in Vijayawada and a satellite center in Eluru with a total bed capacity of 250. A new 350-bed multi-specialty hospital is under construction in the heart of Guntur city. DRCMH operates 5 telemedicine centers to cater and attend to patients suffering from acute heart and brain stroke and offers outpatient consultation services to patients in rural areas.
We, at Nishith Desai Associates, acted as legal counsel to IVT for this transaction.