Apollo Hospitals shares fall 4.8% after series of block deals
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Mumbai: Shares of Apollo Hospitals Enterprises Ltd fell sharply on Friday after the company witnessed a series of block deals in which around 6.58 million shares or 4.7% stake of the company changed hands.
However, details of the buyers and sellers were not known, according to a Bloomberg report.
In intraday trade, the stock fell as much as 4.84%, its steepest fall since 15 November, to touch a low of Rs1,252.20 a share. At 9.45am, the scrip was trading at Rs1,267.10 on the BSE, down 3.7% from its previous close, while India’s benchmark Sensex index fell 0.11% to 28,807.08 points.
On Thursday, Bloomberg reported that Integrated Mauritius Healthcare Holdings Ltd will sell up to 8.44 million shares or 6% stake in the company in the price range of Rs1,267-1,320.55 apiece. On the upper hand price, the deal value was pegged at Rs11.45 billion.
Deutsche Bank is the sole bookrunner to the issue.
As of December 2016, Integrated Mauritius Healthcare Holdings has 10.85% stake or 15.09 million shares in the company.
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