Apollo Hospitals Enterprise Ltd. confirmed on Friday, August 22, that promoter and Managing Director Suneeta Reddy was the seller in the large block trade executed earlier in the day. According to the exchange filing, Reddy sold 18.97 lakh shares — representing 1.3% of her total holding — at ₹7,850 per share, generating ₹1,489 crore through the deal.
The block transaction involved 1.32% of Apollo Hospitals’ total equity. The company stated that the funds raised will be used to significantly reduce the pledged shares held by the promoter group, bringing them down from 13.1% to just 2%. As a result of the sale, the promoter group’s overall stake will decline from 29.3% to 28%.
A day prior, CNBC-TV18 had reported that Reddy was expected to offload 1.25% stake — around 18 lakh shares — at a floor price of ₹7,747 per share, valuing the deal at ₹1,395 crore.
As of the June quarter, Reddy held a 3.36% individual stake in Apollo Hospitals. For Q1, the company reported a 42% rise in net profit to ₹433 crore, with revenue up 14.9% to ₹5,842 crore.