Piramal Alternatives injects Rs 215 Cr in Kolors Healthcare to drive next phase of growth

Mumbai-based Piramal Alternatives, the fund management division of the Piramal Group, has announced an investment of Rs 215 crore in Hyderabad-based Kolors Healthcare India, one of the market leaders in wellness chain industry in South India.

The investment has been made through Piramal Alternatives’ India Credit Opportunities Fund II (PCF II) and will support Kolors’ next phase of growth, including the expansion of its clinic network, enhancement of existing infrastructure, diversification of its service portfolio and the strategic transformation of its centres under the “Kolors 2.0” initiative.

Commenting on this development, Kalpesh Kikani, CEO, Piramal Alternatives, said “Kolors has built a strong brand and differentiated presence in the rapidly evolving wellness and preventive healthcare segment. Its focus on customer outcomes, disciplined execution and continued investment in technology and service innovation positions it well for sustainable growth. We look forward to supporting the management team in scaling the platform and creating long-term value.”

Vijaya Krishna, MD, Kolors Healthcare India, said "The capital will enable us to accelerate clinic expansion, strengthen our infrastructure, broaden our service offerings and advance our Kolors 2.0 transformation."

Venkata Shivaji Kuna, Executive Director, Kolors Healthcare India, said, “India’s growing wellness challenges require solutions that are accessible, personalised and outcome-driven. The combined strengths of Piramal Alternatives and Kolors will help us address these needs at scale. Through Kolors 2.0, we aim to build a stronger wellness platform that solves real lifestyle and preventive healthcare needs across India.”

India’s wellness and preventive healthcare ecosystem is undergoing a significant transformation, supported by increasing consumer awareness, greater focus on preventive health, rising disposable incomes and growing demand for personalised wellness and aesthetic solutions. Against this backdrop, Kolors is well positioned to build on its established regional presence and expand its offering across high-growth segments.

The investment further strengthens Piramal Alternatives’ track record of partnering with high-quality mid-market businesses and providing tailored capital solutions across the capital structure to support growth, transformation and value creation.