Apollo Hospitals shares fall nearly 3%, Khazanah arm selling stake

Malaysian sovereign fund Khazanah’s arm is looking to sell up to 6.7 million shares in Apollo Hospitals at a price range of Rs1,245 to Rs1,260 apiece

In March, the Khazanah arm sold a Rs1,060 crore stake in Apollo Hospitals. Photo: Mint
In March, the Khazanah arm sold a Rs1,060 crore stake in Apollo Hospitals. Photo: Mint

Mumbai: India’s Apollo Hospitals Enterprise Ltd shares fell as much as 2.7% on Thursday as an arm of Malaysian sovereign fund Khazanah was looking to exit the healthcare provider by selling its remaining 4.78% stake.

Integrated (Mauritius) Healthcare Holdings Ltd, an arm of the Malaysian fund, was looking to sell up to 6.7 million shares in Apollo Hospitals at a price range of Rs1,245 to Rs1,260 apiece, below its 1,280.20 closing price on Wednesday, according to a deal term sheet.

Stock exchange data as of 9.31am showed more than 6.6 million shares in the hospitals operator changed hands in a string of block deals. Deutsche Bank was the bookrunner for the stake sale.

In March, the Khazanah arm sold a Rs1,060 crore stake in Apollo Hospitals. Reuters