Apollo divests 3.6% of promoters’ stake

November 15, 2019 0 By FM

Apollo Hospitals Enterprise Ltd said its managing director, Suneeta Reddy, divested a 3.6% holding in the company.

“In line with our commitment to bring down debt and associated pledges, the promoter family of Apollo Hospitals, represented by Suneeta Reddy, divested 3.6% holding in Apollo Hospitals Enterprise Limited, through a bulk deal,” the company said. The promoter holding in AHEL stands at 30.8%.

“Once these proceeds are applied, along with the net proceeds from the
Apollo Munich transaction (expected by end October), the pledge position will come down from the current 76% to around 20%,” the company said.