Apollo Hospitals closes Rs 330 cr QIP

Apollo Hospitals today said it had closed the share sale to the qualified institutional buyers, which it had recently started to raise Rs 330 crore for expansion purposes.

In a filing to the Bombay Stock Exchange (BSE), Apollo Hospitals said the company fixed the price of the issue at Rs 495 per equity share.

It had started the placement of shares with qualified institutional buyers from July 14, and closed today.

Nomura Financial Advisory & Securities (India), Enam Securities and Citibank are the managers to the share sale.

"The Rs 330 crore to be raised through the QIP issue would be used to part-fund a Rs 1,100 crore investment to add another 2,400 beds by March, 2014," Apollo Hospitals Chief Financial Officer Akhileswaran Krishnan had told PTI earlier.

"The rest of the capital would be raised through debt and internal accruals," he had added.

Apollo Hospitals operates over 8,500 beds across 54 hospitals in the country.

Shares of Apollo Hospitals today closed at Rs 495, down 0.65% from its previous close.