On August 22, Apollo Hospitals Enterprise Ltd announced that its promoter group, led by Managing Director Suneeta Reddy, sold a 1.3% stake in the company via a block deal, raising around ₹1,489 crore. The funds will be used to reduce debt and honour a previous commitment to lower the number of pledged shares. The shares were sold at ₹7,850 each, nearly 1% lower than the prior day’s closing price, with Morgan Stanley India facilitating the transaction.
Following the deal, the promoter group’s stake in Apollo Hospitals has come down from 29.3% to 28%, while the proportion of pledged shares has significantly declined from 13.1% to 2%. The company emphasized that this sale aligns with its promise to investors regarding pledged shares.
The promoter group reaffirmed its commitment to growing Apollo Hospitals, Apollo Health Co, and Apollo Health and Lifestyle, and stated it has no plans to reduce its stake further. The move reflects a broader strategy to improve financial health amid rising scrutiny over promoter pledging. Apollo, India’s largest hospital chain by market cap, continues to expand in digital health, diagnostics, and tertiary care.
