AgenciesUS private equity major KKR on Tuesday sold its entire 27% stake, around 26.47 crore shares, in hospital chain Max Healthcare. With this, the company has sold its entire stake in the hospital chain and raised around Rs 9,000 crore from the stake sale.
The stake sale took place via a block deal and in three tranches.
Even though the scrip opened sharply lower, a dip of around 1.3%, it climbed off lows to trade with gains of over 2% as of 10:15 am.
As per the terms of the transaction, the shares will be sold at around Rs 350-362 a piece, a discount of 3.29% to its closing price on Friday.
Max Healthcare’s consolidated net profit increased by 12% to Rs 229 crore for the June quarter driven by annual price revision and normalisation of patient footfalls. The healthcare provider had reported a net profit of Rs 205 crore in the June quarter of last fiscal.
Net revenue during the period under review rose to Rs 1,393 crore as compared with Rs 1,322 crore in the April-June quarter of the last fiscal.
The stake sale took place via a block deal and in three tranches.
Even though the scrip opened sharply lower, a dip of around 1.3%, it climbed off lows to trade with gains of over 2% as of 10:15 am.
As per the terms of the transaction, the shares will be sold at around Rs 350-362 a piece, a discount of 3.29% to its closing price on Friday.
Max Healthcare’s consolidated net profit increased by 12% to Rs 229 crore for the June quarter driven by annual price revision and normalisation of patient footfalls. The healthcare provider had reported a net profit of Rs 205 crore in the June quarter of last fiscal.
Net revenue during the period under review rose to Rs 1,393 crore as compared with Rs 1,322 crore in the April-June quarter of the last fiscal.
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