Kotak Mahindra Capital Company Ltd has submitted to the Exchange a copy of Letter of offer.
HCG · price
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Awaiting price reaction for this filing.
KKR-linked acquirer Hector Asia Holdings II Pte. Ltd., along with PACs (Hector Asia Holdings I, KKR Asia IV Fund Investments, and KIA EBT II Scheme 1), has issued a Letter of Offer to buy up to 3,70,90,327 shares (26% of expanded voting share capital) of Healthcare Global Enterprises (HCG) at ₹504.41 per share in cash. The maximum consideration for the open offer is about ₹1,870.87 crore, with the total deal value (including the underlying transaction) reaching up to ₹3,389 crore. The acquirer has already purchased a 51% controlling stake (First Tranche of ~7.19 crore shares) on May 30, 2025 and has obtained all regulatory approvals (CCI India and Competition Authority of Kenya). The tendering period for the open offer runs from July 21, 2025 to August 1, 2025, with payment to shareholders by August 18, 2025.
Public shareholders of HCG now have a window to tender shares at ₹504.41 per share in cash. Since the acquirer already holds 51% control and the open offer could push promoter/invester group holding toward 75%, there may be a subsequent dilution event to maintain minimum 25% public shareholding. The stock may see price action around the open offer price during the tendering period.