Apax rejigs holding in Apollo Hospitals

US-based private equity firm Apax Partners has transferred its entire 12.67 per cent equity shares in Apollo Hospitals Enterprise Ltd, worth Rs 1,034 crore from the two funds which held the shares to another affiliate of the company.

According to bulk deals data of NSE, 17.04 million equity shares were sold by the two funds of Apax Partners, Apax Mauritius FDI One Ltd (which had over 14.09 million shares) and Apax Mauritius FII Ltd (which had over 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.

An AHEL announcement on Tuesday said that this is an inter-se transfer within their funds as advised by Apax Partners and was done through block deal transactions on the stock exchange.

“HSTN Acquisition (FII) Ltd will hold 13.44 million equity shares (representing 10 per cent of company’s shareholding) as direct equity investment in the company and the balance of over 3.59 million shares (representing 2.67 per cent of company’s total shareholding) in the form of GDRs which were acquired pursuant to the two way fungibility scheme,” said the company in a filing, on the NSE.

As on December 31, 2011, Apax Mauritius FDI One Ltd was holding 10.48 per cent share and Apax Partners Europe Managers Ltd on the account of Apax Mauritius FII Ltd was holding 2.19 per cent of total share in AHEL.