Chennai, Aug 22 (UNI) Suneeta Reddy, representing the promoter group, has sold 1.3 per cent of the stake in the company, said City-based Apollo Hospitals Enterprise Limited today.
In a regulatory filing, the company said that Reddy has sold 1,897,239 shares at Rs.7,850 per share, totalling about Rs 1,489 crore.
The sale was done through a block deal at a price which is about 1 per cent lower than the closing price of the share (Rs 7,925.10 on BSE) yesterday.
The company said, “Post this transaction, the promoter/promoter group’s shareholding in the company will stand reduced to 28 per cent from the current 29.3 per cent.”
The pledged holdings of the promoter/promoter group (as a percentage of their total holding) will reduce from 13.1 per cent to about 2 per cent.
“The sale proceeds will be utilised to pare down outstanding debt of the promoter group,” Apollo Hospitals Enterprise said.
According to the company, the promoter group continues to stay fully focused on the growth of Apollo Hospitals, Apollo Health Co and Apollo Health and Lifestyle -to create long-term value in each vertical, reiterating their commitment towards high-quality healthcare for every Indian.
“The promoter group does not have any plan for any further stake reduction in the foreseeable future,” the company said.
Meanwhile on the BSE, the scrip opened at Rs.7,985 and came down to touch a low of Rs.7,848.15 and later to change hands at about Rs.7,930.
