Apollo Hospitals’ arm to raise ₹2,475 crore from Advent International
Apollo HealthCo, a subsidiary of Apollo Hospitals Enterprise Ltd, has signed a binding agreement with private equity firm Advent International to raise ₹2,475 crore.
The transaction will also see the merger of two units under Apollo Healthco – its wholesale pharma distribution unit Keimed Pvt Ltd and online healthcare business Apollo 24/7.
Advent shall invest in compulsory convertible instruments over two tranches to acquire 12.1% in Apollo HealthCo, valuing the entity at ₹22,481 crore.
Parent Apollo Hospitals Enterprise will continue to own 59.2% stake in Apollo Healthco.
The report will be updated shortly.
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Published: 26 Apr 2024, 06:27 PM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.