Apollo Hospitals to Buy Rs 103.2 Crore Stake in Apollo Health and Lifestyle
Apollo Hospitals Enterprises has announced plans to acquire a stake worth Rs 103.2 crore in its subsidiary, Apollo Health and Lifestyle (AHLL). This acquisition will be carried out through a rights issue, allowing current shareholders to buy more shares at a discounted price.
Details of the Acquisition
The company will acquire 35,12,107 equity shares of Rs 10 each at a price of Rs 294 per share, including a premium of Rs 284 per share. This totals Rs 1032.60 million. The acquisition aims to support AHLL’s business operations, working capital, and expansion.
About Apollo Health and Lifestyle
Incorporated in 2000, AHLL provides high-quality healthcare services through owned and franchised clinics and hospitals across India. It operates specialty hospitals, maternity hospitals, clinics, diagnostic centers, sugar clinics, dental clinics, and dialysis centers. For the financial year ending in March 2024, AHLL reported a turnover of Rs 13,650 million.
Shareholding and Related Party Transactions
AHLL is a related party of Apollo Hospitals, and the transaction is considered a related party transaction at arm’s length. The promoter group of Apollo Hospitals has no interest in AHLL beyond the shares held by the company. The acquisition will not change the shareholding structure, and AHLL will remain a controlled subsidiary of Apollo Hospitals.
The acquisition process is expected to be completed by this Monday.
