Apollo Hospitals Managing director and major shareholder Suneeta Reddy has sold a 1.3 percent stake in the company through a block deal, raising about ₹1,489 crore, a company statement said on Friday.
Around 19 lakh shares were sold at ₹7,850 apiece, a discount of nearly 1 percent to Thursday’s closing price, according to exchange data. The transaction was facilitated by Morgan Stanley India.
Following the sale, the promoter group’s holding in Apollo Hospitals has fallen to 28 percent from 29.3 percent, while pledged shares have reduced sharply to 2 percent of promoter holdings from 13.1 percent earlier.
“This transaction fulfils a commitment made to investors to reduce the pledge,” Apollo Hospitals said in a statement. The group added it remains focused on expanding Apollo Hospitals, Apollo Health Co, and Apollo Health and Lifestyle, and does not intend to cut its stake further in the near future.
The move comes amid heightened investor scrutiny of promoter pledges and reflects a strategic effort to strengthen the group’s financial position.
Apollo Hospitals, India’s largest hospital chain by market capitalisation, has been expanding its digital health and diagnostics businesses while continuing investments in tertiary care infrastructure.
At noon on Friday, shares of Apollo Hospitals were trading at ₹7,968 on the National Stock Exchange, up 0.52 percent from the previous close.
