Apax Partners sells Apollo Hospitals shares worth Rs 128 cr

MUMBAI: Private equity firm Apax Partners today sold nearly 13 lakh shares of leading hospitals and pharmacy chain operator Apollo Hospitals Enterprise for an estimated Rs 128 crore.

According to the information with the bourses, Apax Partners, which holds the account through HSTN Acquisition (FII), today sold 12,86,679 shares of Apollo Hospitals through open market transcations.

The shares were offloaded on an average price of Rs 995.34, valuing the transaction at Rs 128 crore, the data showed. However, the buyer(s) of the shares could not be ascertained.

Earlier at February end, Apax Partners today had sold 54 lakh shares or 3.88 per cent stake in Apollo Hospitals Rs 445 crore. Besides, at the beginning of February, Apax sold a 4.59 per cent stake or 63.85 lakh shares in Apollo Hospitals for Rs 530 crore.

As of March quarter, Apax Partners held 44.17 lakh shares, amounting to 3.17 per cent stake, in Apollo Hospitals.

Shares of Apollo Hospitals today rose by 4.5 per cent to settle at Rs 1,003.45 apiece on the BSE.