Apollo Hospitals gains after board approves fund raising
Apollo Hospitals Enterprise rose 1.79% to Rs 2,454.85 after the company said its board approved raising upto Rs 1,500 crore in one or more tranches.
The board of Apollo Hospitals Enterprise on Wednesday (2 December) approved the proposal to raise upto Rs 1,500 crore, in one or more tranches, through a further issue of securities on a preferential allotment basis and/or through Qualified Institutional Placement (QIP). The firm will constitute a fund raising committee which will administer all aspects related to the capital raising exercise.
The company will seek shareholders' approval for the same through a postal ballot process.
Apollo Hospitals Enterprise reported 29% drop in consolidated net profit to Rs 58.98 crore on a 2.8% decline in net sales to Rs 2,760.72 crore in Q2 FY21 over Q2 FY20.
Apollo Hospitals Enterprise is a private sector healthcare provider. It owns and operates hospitals across the country.
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