Shares of Apollo Hospitals Enterprise gained in morning trade post a block deal. As per media reports, 50 lakh shares of the company traded in the block deal on NSE at Rs1,482 per share.
The promoters of the company will be issuing 5mn shares through a secondary placement to raise around $101mn (Rs720cr), as per media reports.
Further, reports said that the company aims to reduce the promoters' pledged shares in the company. The deal, for which Citi Group is acting as placement agent and building the book, is expected to happen in a day or two.
According to reports, Apollo Hospitals' promoters are selling up to 5mn shares or 3.6% stake in the company at a floor price of Rs1,450 per share. The transaction is expected to be closed on Thursday.
Stock view:
Apollo Hospitals Enterprise Ltd is currently trading at Rs1,512.95, up by Rs17.55 or 1.17% from its previous closing of Rs1,495.40 on the BSE.
The scrip opened at Rs1,550 and has touched a high and low of Rs1,574.95 and Rs1,501.85 respectively.
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