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ARA Law plans Hyderabad office; advises local hospital PE buy


Mumbai private equity (PE) boutique ARA Law is mulling opening a Hyderabad office and expanding in Bangalore, having most recently advised on a Rs 60 crore Hyderabad hospital investment by private equity house Milestone Religare Investment Advisors.

ARA founder and managing partner Rajesh N Begur said: "We have been going to Hyderabad much more often than any other place for business. We are pretty keen to do something in Hyderabad once we find the right talent there…

"We will open up a larger office in Bangalore and another office in Hyderabad sooner or later."

Begur noted that the market in the metro was evolving and that according to one PE professional, entrepreneurs in Hyderabad were much more forward looking and able to visualize requirements of PE investors.

"There are a number of transactions happening that are Hyderabad focused - these days everything appears to be happening in Hyderabad only," he enthused.

Earlier this week ARA advised on Milestone Religare Investment Advisors Rs 60 crore investment in Hyderabad's Krishna Institute of Medical Sciences Limited (KIMS), which will be used to expand the hospital's capacity and range of treatments.

Begur and ARA partner Darshan Upadhay acted as joint counsel in the transaction with associate Dhaval Shah. Begur noted that the firm had acted as lawyers to both parties under an agreed collaborative approach.

Milestone Religare Investment Advisers is joint venture entity between fund house Milestone and integrated financial services group Religare.

Begur said that ARA had first started working with Milestone Religare earlier this year. "It has been an invigorating experience - Milestone Religare is a great team with the ability and hands-on knowledge," he noted.

He explained that working the fund had been a unique experience as it employed several doctors on the team. "As we all know this fund is focused on healthcare and education sector therefore, it was nice to know that there are people who understand the business in a little more detail, being a good blend of investment professionals and doctors."

Begur added that as a boutique firm ARA tried to emulate that approach to gain a stronghold in that transactional space.

ARA Law is a boutique practice founded in 1996. It has three partners and a total of around 20 associates, with a small Bangalore outpost.

Photo by Krisnendu Sar

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