Apollo Hosp to reduce stake in BPO arm
"We have received some very good offers but we keep on getting these kind of offers. We don't have an immediate plan to sell it off ...we would rather like to lower our stake than to completely sell it off," Apollo Hospitals Executive Director-Operations Sangita Reddy said on the sidelines of a Ficci event here.
Apollo Hospitals has been reported to be looking out to sell its entire stake in the BPO arm.
Reddy, however, declined to comment on how much the promoters or the group were looking to dilute stake in Apollo Health Street.
The Chennai-headquartered healthcare major along with the rest of promoter group has around 53 per cent stake in Apollo Health Street, while the rest 47 per cent stake is with private investors, including various private equity funds.
She also declined to comment on the parties with which Apollo Hospitals is in talks for the possible stake sale.
Formed in 1999, Apollo Health Street offers services to support business practices, telemedicine services, education, training programmes, research services and a host of other non-profit projects.
Hospitals has over 8,500 beds capacity across 50 hospitals within and outside India. It is also in the process of adding another 2,000 beds in the next for an estimated outlay of nearly Rs 1,200 crore.
Shares of Apollo Hospitals today closed at Rs 527.80 on the BSE, up 0.74