Apollo Hospitals Enterprise Ltd said on August 22 that its promoter group, represented by managing director Suneeta Reddy, sold a 1.3 percent stake in the company through a block deal, raising approximately Rs 1,489 crore to pare debt and fulfil promise of lowering pledged shares.
The transaction, executed at Rs 7,850 a share, is about 1 percent below the previous day’s closing price, and was facilitated by Morgan Stanley India.
After the sale, the promoter group’s holding in Apollo Hospitals has declined to 28 percent from 29.3 percent, while pledged shares as a percentage of total promoter holding have dropped from 13.1 percent to 2 percent.
“This transaction fulfils a commitment made to investors to reduce the pledge,” the company said in a statement.
The promoter group said it remains fully focused on the growth of Apollo Hospitals, Apollo Health Co, and Apollo Health and Lifestyle, and has no plans to further reduce stake in the foreseeable future.
The move comes amid growing investor scrutiny of promoter pledges and signals a strategic effort to strengthen the group’s financial position while maintaining long-term commitment to the business.
Apollo Hospitals, India’s largest hospital chain by market capitalisation, has been expanding its digital health and diagnostics footprint, while continuing to invest in tertiary care infrastructure across the country.
At 11.42 am, the Apollo Hospital stock was trading at RS 7,968 on the National Stock Exchange, up 0.52 percent from the previous close.
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