Apollo likely to raise Rs 100 cr

Apollo Hospitals Enterprise Limited, the country’s largest hospital chain, is planning to raise around Rs 100 crore to fund its operations, according to a senior official of the company.

The hospital is looking at raising funds through bonds with a call option at the end of the third year. Plans are in the preliminary stage and nothing has been finalised yet, the official told Business Standard. According to a report, coupon rates for the private placement have also been fixed.

It may be noted that the company has been in an expansion mode for the last few years. In the beginning of the current financial year, it has announced a target to add around 2,400 beds in the next two to three years with an investment of Rs 1,100 crore. Apollo had raised around Rs 330 crore by way of qualified institutional placements in July-August 2011.