Apax sells Apollo Hospitals stake to sub-account for Rs 1034cr

MUMBAI: US-based private equity firm Apax Partners today sold its entire holding of 12.67 per cent in leading hospitals and pharmacy chain operator Apollo Hospitals Enterprise for Rs 1,034 crore to its own FII sub-account entity in India, HSTN Acquisitions (FII) Ltd.

Apax sold the stake, held through two of its funds - Apax Mauritius FII Ltd and Apax Mauritius FDI One Ltd, through bulk deals at the stock exchanges to HSTN Acquisitions.

The shares changed hands at a price of Rs 606.60 a piece. Shares of Apollo Hospitals Enterprise rose by 0.31 per cent to close at Rs 607.70 a piece on the BSE.