Apollo Hospitals promoters divest stake through bulk deal

Our Bureau New Delhi | Updated on September 12, 2019

Promoters of Apollo Hospitals divested 3.6 per cent holding in Apollo Hospitals Enterprise Limited (AHEL), through a bulk deal on Thursday. Promoter holding in AHEL now stands at 30.8 per cent.

"We are divesting in line with our commitment to bring down debt and associated pledges. Once these proceeds are applied along with the net proceeds from the Apollo Munich transaction which is expected by end October, the pledge position will come down from the current 76 per cent to around 20 per cent. There will be no further dilution of promoter stake," a press release from the company stated.

"We have always maintained that our over-arching priority is to work in the best interest of investors and stakeholders, and to maximise value for them. We believe this decisive step in bringing down pledge levels will best serve the interests of all stakeholders," stated the release.

"The promoter family stays fully committed to the vision of our founder, Prathap C Reddy. We are focused on the growth of the enterprise and its performance - with specific thrust on all three verticals – healthcare services, standalone pharmacies and retail health. We believe each one of these verticals offers tremendous potential for value, and we will devote our energies to enhancing that value," the release further stated.

It also said, "The coming decade will be a definitive one for Indian healthcare when the synergies of integrated care, across preventive and curative models, enabled by seamless consumer engagement through digital platforms, will become visible. Apollo Hospitals will continue to be at the forefront of that transformative journey. Together, we will make the vision of quality, accessible and affordable healthcare for all, a reality."

Published on September 12, 2019

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