Max Healthcare Institute Limited has approved a major expansion plan in Maharashtra with the acquisition of Yerawada Properties Private Limited (YPPL), paving the way for a new super speciality hospital in Pune. The decision was taken by the company’s board of directors at its meeting held on December 18, 2025.
As part of the transaction, Max Healthcare will enter into a share purchase agreement to acquire a 100 percent equity stake in YPPL, a Pune-based real estate company that owns a 1.68-acre freehold land parcel in Yerawada, one of the city’s central and prime localities. The acquisition will be executed in a phased, step-up manner and will be completed after the receipt of the occupancy certificate for the proposed hospital building.
In the first tranche, Max Healthcare will acquire 100% of the Class A equity shares of YPPL, giving it full voting rights along with approximately 50.22% of the economic interest in the company. The remaining Class B equity shares will be acquired progressively over a period of around four years. The total cost of acquiring YPPL shares is estimated at about ₹200 crore and will be paid through cash consideration. The transaction does not qualify as a related-party transaction, and the promoter or promoter group has no interest in the target entity.
Alongside the acquisition, the board has also approved an aggregate investment of up to ₹1,020 crore for the development of a nearly 450-bed super speciality hospital on the YPPL land parcel. This investment includes the cost of land acquisition, construction, medical equipment, stamp duty, and registration charges. The proposed hospital capacity is expected to be added over the next four years and will be funded through a mix of internal accruals and term loans.
YPPL was originally incorporated as an LLP in February 2024 and was converted into a private limited company in November 2025. It is engaged in real estate development and has no reported operating turnover in the past three years. No government or regulatory approvals are required for the acquisition of shares in the company.
