New Delhi, September 18, 2019: In line with our commitment to bring down debt and associated pledges, the promoter family of Apollo Hospitals, represented by Ms. Suneeta Reddy, today divested 3.6% holding in Apollo Hospitals Enterprise Limited (AHEL), through a bulk deal. Promoter holding in AHEL now stands at 30.8%.
Once these proceeds are applied along with the net proceeds from the Apollo Munich transaction (expected by end October), the pledge position will come down from the current 76% to around 20%.
There will be no further dilution of promoter stake.
We have always maintained that our over-arching priority is to work in the best interest of investors and stakeholders, and to maximise value for them. We believe this decisive step in bringing down pledge levels will best serve the interests of all stakeholders.
The promoter family stays fully committed to the vision of our founder, Dr Prathap C Reddy. We are focused on the growth of the enterprise and its performance – with specific thrust on all three verticals – healthcare services, standalone pharmacies and retail health.
We believe each one of these verticals offers tremendous potential for value, and we will devote our energies to enhancing that value.
The coming decade will be a definitive one for Indian healthcare when the synergies of integrated care, across preventive and curative models, enabled by seamless consumer engagement through digital platforms, will become visible.
Apollo Hospitals will continue to be at the forefront of that transformative journey. Together, we will make the vision of quality, accessible and affordable healthcare for all, a reality.
Corporate Comm India (CCI Newswire)
