Singapore’s state investment firm Temasek has emerged as the front-runner to buy a minority stake for $120-130 million (about ₹985-1,070 crore) in health insurance company Niva Bupa Health Insurance, which is majority owned by Indian private equity firm True North, said people aware of the development.
The proposed investment round led by Temasek is likely to value the company at around ₹11,000-12,000 crore ($1.34 -$1.46 billion), the people said. A couple of other investors are likely to join Temasek in this round with smaller cheques, taking the total funding to $180-200 million, they added.
