Apollo Hospitals at record high as PE fund plans to exit at premium

Apollo Hospitals Enterprises has soared 7% to Rs 780, also its record high on reports that global private equity firm Apax Partners LLP is looking to sell its 10% stake in the company at premium to the current market price.

“Malaysian sovereign fund Khazanah Nasional Bhd, which already holds a 10.85% stake in Apollo Hospitals, is one of the funds in talks with Apax,” the Reuters report suggests.The transaction would be at least a 20-25% premium to the current market valuations, added report.

The stock opened at Rs 730 and hit a low of Rs 728 on the National Stock Exchange. A combined 288,051 shares have changed hands on the counter so far on both the exchanges.