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Temasek Holdings to step up India investments

Temasek, a Singapore state investment firm is set to boost its India investments through different sector-focused investment platforms.

“We are exploring various options for India investments similar to the real estate and healthcare platforms we have invested in,” said Rohit Sipahimalani, joint head, India, Temasek Holdings.

Investments through these platforms are meant for a long term of 10-15 years, unlike most PE investments that look to exit in 4-5 years.

Further adding, Sipahimalani explained, “These platforms will be looked after by our dedicated Singapore team who will involve in operations and grow it to next level. Under these platforms, business will grow organically as well as inorganically, where we consider all buyout opportunities,”.

Temasek has invested about $5 billion in the last five years, averaging at $1 billion every year. It will be looking to invest about $10 billion or 4% of its total net portfolio value of $235 billion in India. This year, Temasek has invested around $1.5 billion, including in Asia Healthcare Holdings (AHH).

“At present, AHH has investments in single specialty hospitals. But they may consider investments in multispeciality hospitals and explore all kinds of opportunities,” said Sipahimalani.

Temasek also has minority stakes in large hospitals like Manipal Hospital, Medanta-The Medicity owned by cardiac surgeon Naresh Trehan, and Bengaluru-based cancer care hospital chain Healthcare Global Enterprises.

Looking at some of the past investment ventures of Temasek, it had created a 2000 crores platform, along with Ascendas Singbridge Group to invest in logistics and industrial real estate across key location in India.

It also ventured into new sectors in India recently. A $2 billion buyout of Larson & Toubro’s electric and automation business unit along with Schneider Electric marked its foray into manufacturing.

Notable Temasek investments in the current year include $250 million in UST Global, an IT firm, $125 million along with PayPal in digital platform Pine Labs, and ₹1,000 crores ($147 million) in AU Small Finance Bank. Temasek is also an investor in PolicyBazaar, BillDesk, and Crompton Greaves.

Recently, a lot of Chinese, as well as american investors, have been venturing into the Indian market with a lot of expectations. Ganesh Ventures has marked the first close of its ₹200 crores India focused fund, along with Lightspeed Venture Partners raising ₹1,200 crores for the second India-dedicated fund.

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