
ICICI Venture sells 30% in KIMS to General Atlantic for Rs 850 crore
MUMBAI: India’s largest private equity fund ICICI Venture has sold its 30% stake in Hyderabadbased hospital chain Krishna Institute of Medical Sciences to rival General Atlantic for Rs 850 crore, making close to four-fold returns on its initial investment in four years, two people with direct knowledge of the sale told ET. “Yes, ICICI Venture has exited, but we don’t know the value,” Bhaskar Rao, chief executive, KIMS, confirmed to ET in a mobile phone text message. “The money is not coming to KIMS.’’ The stake sale to General Atlantic values KIMS at around Rs 2,700 crore, up from Rs 850 crore in 2014. General Atlantic and ICICI Venture did not respond to ET queries. ICICI Venture had invested about Rs 220 crore in 2014 in the hospital chain, which had a