| Log in

Bank of New York Mellon Entities Pick Shares In Apollo Hospitals

04 February, 2011

Two funds of asset management and security services company Bank of New York Mellon has picked 3.6% stake in Apollo Hospitals for Rs 204.75 crore ($44 million). Apollo Hospitals is India’s largest healthcare services firm and is backed by buyout giant Apax Partners and Malaysian sovereign wealth fund Khazanah besides International Finance Corporation.

Bulk of the shares were purchased from an entity Olivia Holdings DR AC, which could mean the transaction related to the company’s depository receipts.

Part of the shares were acquired by BNY Mellon Asian Equity Fund, which targets investments in Asia excluding Japan. The over two decades old fund had total net assets of $835 million as of November 2010, 5.8% of which was invested in India. Among its other investments in India include Coal India.

Apollo Hospitals is in the process of raising over Rs 1,000 crore through a qualified institutional placement (QIP) and warrant issue to the promoters. It plans to raise Rs 900 through a mix of equity and non convertible debentures with warrants through a QIP besides Rs 154.8 crore through issue of warrants to the promoter Prathap Reddy at Rs 472.46 per warrant.

As of December 31, the promoters already held 3.08 million warrants that are convertible by end 2011. These warrants were issued at a price of Rs 385.8. Apollo scrip was trading at Rs 461.95 at mid-day on NSE.


View Comments
Apax Consolidates Apollo Hospitals Holding Under Single Fund

Apax Consolidates Apollo Hospitals Holding Under Single Fund

Madhav A Chanchani 6 years ago
Private equity major Apax Partners appears to have rejigged its entire 12.67 per...
Apax Partners sells more stake in Apollo Hospitals; part-exit multiple nudges up

Apax Partners sells more stake in Apollo Hospitals; part-exit multiple nudges up

TEAM VCC 4 years ago
Private equity major Apax Partners has sold a little less than 1 per cent stake...
News Roundup: HDFC, Pramerica Lead Race For Fidelity Mutual Fund

News Roundup: HDFC, Pramerica Lead Race For Fidelity Mutual Fund

TEAM VCC 6 years ago
HDFC, Pramerica Lead Race For Fidelity – India’s largest fund house,...
1 Comment
Tarun . 6 years ago

Hope this gives a fillip to the medical tourism

Bank of New York Mellon Entities Pick Shares In Apollo Hospitals

Powered by WordPress.com VIP