Apollo Hospitals Promoter Group Sells 1.3% Stake for INR 148 Crore

The Promoter Group of Apollo Hospitals Enterprise Limited, represented by Ms. Suneeta Reddy, has sold 1,897,239 equity shares, amounting to 1.3% of the stake in AHEL, through a block deal on the stock exchanges. The sale was conducted at a price of INR 7850 per share, a discount of ~1% to the closing price yesterday. The sale proceeds will be utilised to pare down outstanding debt of the Promoter Group. Post this transaction, the Promoter / Promoter Group’s shareholding in the Company will stand reduced to 28% from the current 29.3%. The pledged holdings of the Promoter/Promoter Group will reduce from 13.1% to ~2%.