Apollo Hospitals MD Suneeta Reddy sells 1.3% stake via block deal

Promoter group raises Rs 1,489 cr to reduce debt and holdings; doesn't plan further stake reduction

Suneeta Reddy, the promoter and managing director of Apollo Hospitals Enterprise, on Friday sold a 1.3 per cent stake in the company through a block deal, raising Rs 1,489 crore to reduce the promoter group’s debt and holdings.

 

The company said in a filing that the promoter group, represented by Suneeta Reddy, sold 1.9 million equity shares on the stock exchanges for Rs 7,850 apiece, which was a discount of 1 per cent to Thursday’s closing price of Rs 7,925.

 

The promoter group’s holding in Apollo Hospitals will reduce to 28 per cent from 29.3 per cent, and pledged holdings (as a percentage of the group’s total holding) will reduce from 13.1 per cent to 2 per cent. The company said that the transaction fulfils a commitment made to investors to reduce the pledge.

 

Morgan Stanley India Company acted as a selling broker for the sale. "The promoter group continues to stay fully focused on the growth of Apollo Hospitals, Apollo Health Co and Apollo Health and Lifestyle to create long-term value in each vertical, reiterating their commitment towards high-quality healthcare for every Indian. The promoter group does not have any plan of any further stake reduction in the foreseeable future," said the company in a statement.

 

Suneeta’s sisters, Preetha Reddy, Shobana Kamineni, and Sangita Reddy, hold 0.73 per cent, 1.56 per cent, and 1.69 per cent each in the company. The hospital chain posted a 42 per cent rise in net profit in the first quarter of FY26 to Rs 432.8 crore, compared to Rs 305.2 crore the previous financial year.

 

Consolidated revenues grew 15 per cent to Rs 5,842.1 crore, compared to Rs 5,085.6 crore during the January to March quarter of FY24. Profit growth was attributed to health care services, retail health care and diagnostics, and digital and pharma distribution.

 

As of June 30, Apollo Hospitals had 8,030 operating beds across the network (excluding Apollo Health and Lifestyle Limited and managed beds). The overall occupancy for hospitals was at 65 per cent compared to 68 per cent in the same period in the previous year.