💠💠 Apollo Hospitals Enterprise Ltd (AHEL) said its managing director, Suneeta Reddy, a member of the promoter family, has sold a 3.6% stake in the company to raise funds to trim promoter-level debt.
Shares were sold to institutional investors, including a fund managed by Abu Dhabi Investment Authority and France’s Societe General, for ₹1,482.50 per share, fetching the promoters ₹741 crore .
Mint reported on Wednesday that the promoters have launched a secondary share sale of five million shares, at a floor price of ₹1,450 apiece, which would fetch the promoter family ₹725 crore.
Citigroup and HDFC Bank advised the promoters on the stake sale, Mint reported.
News & Pic Credit - LiveMint
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