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Apollo Hospitals Enterprises, a prominent Indian multinational healthcare company announced its acquisition of stake in subsidiary Apollo Health and Lifestyle Limited (AHLL).
The acquisition worth ₹103.26 crore has been carried out through a rights issue. This investment by Apollo Hospitals aims to strengthen AHLL’s business operations, working capital, and expansion initiatives.
On Saturday, the hospital chain informed the stock exchanges that the company will acquire 35,12,107 equity shares of ₹10 each at a price of ₹294 per share (including premium of ₹284 per share) totaling to ₹103.26 crores through subscription to the rights issue of its subsidiary AHLL.
Established in 2000, AHLL is dedicated to offering extensive, top-tier healthcare services through a network of owned and franchised clinics and hospitals throughout India. Its primary operations encompass specialty hospitals, maternity hospitals, clinics, diagnostic centers, diabetes clinics, dental clinics, and dialysis centers.
AHLL reported a turnover of ₹1365 crore for the financial year ended March 31, 2024. The company clarified that, apart from the shares held by the Company in AHLL, the promoter or promoters of group or group companies have no stake in AHLL.
The acquisition is expected to be completed by 8th July.
- Also read: FMCG makers expect single-digit revenue growth, margin improvements in April-June quarter
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