Max Healthcare to Acquire 58.4% Stake in Kalinga Hospital, Approves ₹1.0 Billion Funding Support

Max Healthcare Institute Limited has approved the acquisition of a controlling 58.4% stake in Kalinga Hospital Ltd, which operates a 250-bed multi-specialty hospital in Bhubaneswar, the company said in a press release.

The company will enter into a share purchase agreement to complete the transaction, the release mentioned. Alongside the acquisition, the board has approved providing loans of up to ₹1.0 billion to support construction, renovation and equipment.

Max Healthcare has also approved issuing a corporate guarantee for refinancing existing external borrowings of $5.0 million, along with interest. To fund the acquisition, the company will raise up to ₹3.0 billion through external commercial borrowings in the form of a senior secured term loan.

Separately, the board approved the reappointment of Narayan K. Seshadri as a non-executive, non-independent director for a three-year term from May 16,2026 to May 15,2029, subject to shareholder approval.

The company will seek shareholder approval through a postal ballot.