Apollo Hospitals surges on huge volumes after Apax rejig

Apollo Hospitals Enterprises has surged 8% to Rs 672 on huge volumes after US-based private equity firm Apax Partners has transferred its entire 12.67% equity shares in the company to its group affiliate HSTN Acquisition via market deals worth Rs 1,033 crore in an inter se transfer.

According to bulk deals data of NSE, on Tuesday, 17.04 million equity shares were sold by the two funds of Apax Partners, Apax Mauritius FDI One Ltd (14.09 million shares) and Apax Mauritius FII Ltd (2.9 million shares), at Rs 606.60 per share.

The shares were bought by HSTN Acquisition Ltd, which according to Sebi, is related to Apax Partners Europe Managers Ltd.

The stock opened at Rs 624 and hit a high of Rs 687 on the National Stock Exchange. As many as a combined 462,470 shares have changed hands on the counter so far, against an average around 103,552 shares that were traded daily in past two weeks.