31463 - SRLL

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.

For Partners

For Investors

Get in Touch

Summary of Proposed Investment

Project Number

31463

Company Name

Agilus Diagnostics Limited

Date SPI Disclosed

Jan 23, 2012

Country

India

Industry

Health, Education and Life Sciences

Projected Board Date

Feb 22, 2012

Status

Completed

Sector

Hospitals and Clinics

Department

Regional Industry - MAS Asia & Pac

Environmental Category

B - Limited

Previous Events

Approved : Mar 20, 2012
Signed : Jun 12, 2012
Invested : Jun 25, 2012

Project Description

The Project (“SRLL”) is a financial investment of up to $25 million in Super Religare Laboratories Limited (“SRL” or the “Company”). SRL, a leading provider of medical diagnostics services in India, was established in 1995 by Dr. Parvinder Singh.

The Project will help SRL to optimize its capital structure by repaying existing debt and also support its expansion plans of opening new laboratories across India and, potentially, across several lower middle-income countries in Asia and Africa.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	24.53

Development Impact

- SRL''s expansion plans include opening new laboratories across India including laboratories in several Low Income States and Tier II and Tier III cities, which will help improve the standard of medical facilities by providing advanced, high quality diagnostics services.

- The Project will provide additional direct employment to more than 800 technically qualified professionals apart from generating indirect employment for close to 2,000 people through its collection centers and other allied downstream facilities.

- The Project will provide standardized high quality diagnostics services in a fragmented industry, where the quality of diagnosis has a critical impact on the health of the population.

- The Project will create new business opportunities for local companies, including small and medium enterprises that will be franchise partners and through training and development of franchise partners, help improve the overall quality of healthcare services.

- SRL also plans to expand its laboratory network across several lower-middle income countries in Asia and Africa.

- The Project is expected to lay the foundation for a strategic partnership with Fortis Group, a leading healthcare provider in India and meet IFC''s long term goal of increasing the availability of better quality medical facilities in an under-served and under-penetrated market.

- IFC will play the role of a long term institutional anchor investor in SRL, even after a public issue of shares.

- Given IFC''s track record of investments in the healthcare sector, IFC would be well placed to partner with SRL as it expands its services internationally through sharing of its industry knowledge across emerging markets.

- IFC is also working closely with SRL in adopting best practices in corporate governance, insurance and environmental and social matters.

This is a Category B project according IFC’s Procedure for Environmental and Social Review of Projects.

The key social and environmental issues associated with the Project include: adequacy of the social and environmental assessment of the construction and operations phases of the Project; implementation of social, environmental, health and safety management systems; assurance of fair, safe and healthy working conditions during construction and operations; efforts to minimize energy and water consumption; life and fire safety of the laboratories and clinics and management of wastes and emissions - especially the biomedical / hazardous waste disposal.

Further details on the potential environmental and social impacts of the project, corresponding mitigation measures and guidance on how and where information about the project is provided in the Environmental & Social Review Summary.

Contacts

For Inquiries About the Project, Contact

Mr. Kiran C Vaidya,
Chief Operating Officer
Super Religare Laboratories Limited
Prime Square Building, Plot Number 1,
Gaiwadi Industrial Estate, S. V. Road,
Goregaon West, Mumbai 400062, India
Email: "mailto:kiran.vaidya@srl.in"
Fax: +91 22 6780 1155
Phone: +91 22 6780 1292
Website: www.srl.in

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

Local Access of Project Documentation

Super Religare Laboratories Limited
Prime Square Building, Plot Number 1,
Gaiwadi Industrial Estate, S. V. Road,
Goregaon West, Mumbai 400062, India
Super Religare Laboratories Limited,
GP-26, Maruti Industrial Estate,
Udyog Vihar, Sector – 18,
Gurgaon – 122015, Haryana, India

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Projects

Summary of Proposed Investment

Project Description

Sponsor / Cost / Location

Project Sponsor and Major Shareholders of Project Company

Total Project Cost and Amount and Nature of IFC's Investment

Board Approved IFC Investment

Location of Project and Description of Site

Development Impact

Anticipated Impact Measurement & Monitoring (AIMM) Assessment

IFC's Expected Development Contribution

Environmental and Social Issues - Category

Press-Release

Related ESRS/ERS

Similar Projects

Contacts

Disclaimer