Cloudnine Draws Interest From Warburg, KKR, TPG, Others for 25% Stake Sale
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The development follows earlier reports that Cloudnine was exploring a fundraising transaction of $200 million to $300 million at a valuation of around $1 billion.
India's largest maternity and pediatric hospital chain, Cloudnine, has attracted interest from several global private equity firms for the acquisition of a 25% stake in the company, according to people familiar with the matter.
The potential transaction is expected to value the Bengaluru-based healthcare provider at approximately ₹10,000 crore ($1 billion). Firms evaluating the opportunity include Warburg Pincus, KKR, TPG Capital, Advent International, CVC Capital Partners, Permira, and domestic investment firm Kedaara Capital.
The sale process is being managed by Allegro Capital, with initial bids expected by the first week of July. The stake sale is expected to facilitate a complete exit for existing investor True North, which invested ₹400 crore in the company in 2015.
Current shareholders Temasek and TPG Newquest are expected to retain their holdings. Together, the two investors own nearly 52% of Cloudnine, while the promoter group holds around 10%. The remaining stake is largely held through employee stock ownership plans (ESOPs).
The development follows earlier reports that Cloudnine was exploring a fundraising transaction of $200 million to $300 million at a valuation of around $1 billion.
Founded in 2006 by neonatologist Dr. R. Kishore Kumar along with co-founders Rohit M.A., M. Ramachandra, and Vidya Kumar, Cloudnine has emerged as one of India's largest specialized healthcare networks focused on women and children's health.
According to people aware of the company's financial performance, Cloudnine reported revenue of approximately ₹2,000 crore and EBITDA of ₹300 crore in FY26, underscoring continued investor interest in specialty healthcare assets.
Previous investors in the company have included Matrix Partners and Sequoia Capital.
While Permira and KKR declined to comment on the ongoing process, representatives of True North, Warburg Pincus, Kedaara Capital, CVC Capital Partners, TPG Capital, and Advent International did not respond to queries.
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