Apollo Promoters Offload 1.3% Stake To Cut Debt
Suneeta Reddy-led promoter group of Apollo Hospitals sold a 1.3% stake, or 18.97 lakh shares, via a block deal worth over ₹1,489 crore. Shares were sold at ₹7,850 apiece, slightly below market price. The proceeds from this transaction will be used to reduce the group’s outstanding debt, as per the company's statement.