Apax Partners to invest Rs 426 cr in Apollo Hospitals
Apax Partners, a private equity and venture capital firm, decided to invest Rs 426.4 crore (US$ 104 million) in Apollo Hospitals Enterprise Ltd (AHEL).
By PTI |
MUMBAI: Apax Partners, a private equity and venture capital firm, decided to invest Rs 426.4 crore (US$ 104 million) in Apollo Hospitals Enterprise Ltd (AHEL).
The funds would be used for its future growth plans of setting up new hospitals and expanding other healthcare facilities, the healthcare provider said in a filing to the Bombay Stock Exchange.
The board of directors of AHEL today approved issuing up to 70.47 lakh equity shares of Rs 10 each on a preferential basis to funds advised by Apax Partners at a price of Rs 605.07 per equity share, it said.
Funds advised by Apax Partners total $20 billion around the world. These funds provide long-term equity financing to build and strengthen world-class companies.
Apax Partners invests in large companies across five global growth sectors that include Tech & Telecom, Media, Retail & Consumer, Healthcare and Financial & Business Services.
The board also approved issuing 15.49 lakh (3 per cent of existing capital) warrants convertible into equity shares to the promoters / promoter group at a price not less than the price calculated in accordance with SEBI Guidelines for preferential issue, it said.
The Chennai-based company would seek final approval of shareholders at the extraordinary general meeting scheduled to be convened on October 5.
AHEL is the leading private sector healthcare provider in Asia and owns and manages a network of speciality hospitals and clinics, a chain of pharmacy retail outlets across the country, and provides consultancy services for commissioning and managing hospitals.
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