The proceeds from this divestment are intended to be used for substantial repayment of the loan availed by Metz Advisory LLP, the company said.
Diagnostic services provider Metropolis Healthcare on Wednesday said that a promoter has divested 6.03 per cent stake in the company for Rs 422.58 crore. The company in an exchange filing said "a member of the promoter group of the company has divested 30,54,545 equity shares of the company constituting 6.03 per cent of the issued and paid-up share capital of the company through a bulk deal transaction on the stock exchanges today".
It further said that shares of the company have been sold at a price of Rs 1,383.44 per equity share.
The proceeds from this divestment are intended to be used for substantial repayment of the loan availed by Metz Advisory LLP, the company said.
"We believe that the reduction of pledge of equity shares by Metz Advisory LLP, Ameera Shah, Sushil Shah and Duru Sushil Shah by substantial repayment of the loan availed by Metz Advisory LLP, is in the overall interests of all the stakeholders," the filing said.
"We have sold a small part of our holding today, in line with our commitment to bring down debt and associated pledges at the promoter and promoter group level," Metropolis Healthcare Promoter and MD Ameera Shah said.
Shares of Metropolis Healthcare Ltd closed at Rs 1,398.85 per scrip on the BSE, down 3.69 per cent from the previous close.WEBINAR: Tune in to find out how term insurance can provide risk protection during tough times. Register Now!
