Moneycontrol
Dec 01, 2016 12:24 PM IST | Source: Moneycontrol.com

Apollo Hospitals gains 2% on Rs 450 crore fund infusion by IFC

Apollo Health and Lifestyle (AHLL), a subsidiary of company has received investments worth Rs 450 crore from International Finance Corporation (IFC) and IFC Asset Management Company.

 
 
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Shares of Apollo Hospitals Enterprises gained 2 percent intraday Thursday on capital infusion by International Finance Corporation.

Apollo Health and Lifestyle (AHLL), a subsidiary of company has received investments worth Rs 450 crore from International Finance Corporation (IFC) and IFC Asset Management Company.

With this capital infusion the IFC has acquired 29.03 percent in AHLL.

The company will utilise this funds for its expansion plans.

Sangita Reddy, Joint Managing Director of Apollo Hospitals said," Through this investment we endeavour to continue Apollo group's legacy of setting industry benchmarks and contributing to elevate the standard of healthcare to the next level."

At 12:05 hrs Apollo Hospitals Enterprises was quoting at Rs 1,211.55, up Rs 13.20, or 1.10 percent on the BSE.

Posted by Rakesh Patil
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