Hinduja TMT Ltd, which is being renamed as Hinduja Ventures, and its JV partner UAE's DP World will invest Rs 100 cr each to enter the healthcare sector.
MUMBAI: Hinduja TMT Ltd, which is being renamed as Hinduja Ventures, and its joint venture partner UAE's DP World will invest Rs 100 crore each to enter the healthcare sector.
"We will invest Rs 100 crore and DP World would also invest a similar amount," Hinduja Ventures' Executive Chairman Ashok P Hinduja said.
In March, Hinduja TMT and Dubai World signed a joint venture agreement for infrastructure development projects in India and the Gulf city. DP World is a subsidiary of Dubai World, a holding company owned by the Government of UAE.
"The medicare (healthcare) investments would cover all aspects of the industry such as research & development, diagnostic centres and real estate," Hinduja told the company's shareholders at the annual general meeting here.
The shareholders approved the name change from Hinduja TMT to Hinduja Ventures.
With cash reserves of Rs 502 crore, Hinduja TMT would invest in healthcare, real estate, media and at least half-a-dozen new ventures, Hinduja said.
Next year, Hinduja Ventures plans to list its media company IndusInd Media and Communications, Executive Chairman Ashok Hinduja said.
Besides, it is actively scouting around for a foreign strategic investor for the company.
"We have been looking for an overseas investor so that we can expand globally too. We are in talks with private equity players as well," IndusInd Managing Director Ravi Mansukhani said.
Hinduja Ventures plans to develop residential properties at Bangalore. It has 47 acres of land near the new Bangalore international airport.
"The construction would begin by January-February," Hinduja said.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}