Family running Apollo Hospitals seeks investors, assets sale to pay debt

The family that controls Apollo Hospitals Enterprise Ltd., India’s largest private hospital chain, is looking to sell assets or bring an outside investor into their holding company to pay down debt.

The aim is to reduce the Apollo shares pledged by the family as collateral to lenders, to 20per cent of their total holding in the company from about 78per cent now, said Suneeta Reddy, Apollo’s managing director and one of the four daughters of founder Prathap Reddy. The Reddy family owns about 34per cent of Apollo’s stock.

“The idea is to do something that’s good for all shareholders of