Private Equity Firm BPEA buys Indian fertility clinic chain Indira IVF at valuation of $1.1 billion

Private Equity Firm BPEA has buys Indian Fertility Clinic Chain Indira IVF with 60 % stake

Equity Firm BPEA EQT has acquired 60% of Indira IVF Hospital Pvt. Ltd which is nearly about $1.1 billion, both companies have confirmed the business deal

Mumbai – Indira IVF Hospital Pvt. Ltd, India’s largest chain of fertility clinics now sold to Private equity firm BPEA EQT which has acquired 60% equity from TA Associates and the fertility company’s founders, The total valuation of the deal is about $1.1 billion.

The deal has been confirmed by Friday 28th July this year, Both companies has confirmed this business transaction but not have not disclosed the financial details. Its expected BPEA will pay over $600 million for this deal, Indira IVF founders Murdia family which includes Ajay Murdia, Kshitiz Murdia and Nitiz Murdia will continue to lead the company by holding significant minority stake. Another partner a private equity firm TA Associates, which have taken the minority stake in 2019, will exit the from this current transaction deal.

Ashish Agrawal, partner, BPEA EQT said “We see strong potential in further expanding India IVF’s presence across India and entering adjacent markets while continuing to invest in its R&D capabilities and technology, drawing on EQT’s in-house expertise within healthcare and digitalization,” Ashish Agrawal added that fertility services are a fast-growing space in India. Online portal Mint reported on 26 June that BPEA EQT is forerunner for this bidding stake.

Jimmy Mahtani, Co-partner and Co-head of BPEA EQT India, said: “This investment aligns with EQT’s commitment to investing in companies that address critical societal needs and have the potential to impact people’s lives for the better.”

Kshitiz Murdia, CEO of Indira IVF shown his happiness and said “Partnership with BPEA EQT is the beginning of a new phase of sustainable growth for Indira IVF. Starting from a single clinic in Udaipur to becoming the largest provider of assisted reproductive technology (ART) services in India today, Indira IVF’s journey has been a remarkable success story. The ART sector in India is at an exciting stage of development, and we are lucky to have a great company, partners, and colleagues to lead the growth of this segment,”

Indira IVF has started in Udaripur, Rajasthan and founded in 1988 by Ajay Murdia with single clinic, slowly Indira IVF has grown from a single clinic from Rajasthan to a nationwide network, Now Indira IVF have 116 centres across 20 states in India. The company offers assisted reproductive technology (ART) services in India, According the Indira IVF data it has helped more than 125,000 couples achieves pregnancy and conducts about 40,000 IVF cycles each year. Total turnover of the company in last financial year (2022-2023) was around 1200 Crore rupees and total profit was 340 Crore rupees.

News Resource –, 28 July, 2023

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