Apollo Hospitals to raise ₹ 1,500 crore

Apollo Hospitals Enterprise Ltd. (AHEL) is planning to raise up to ₹ 1,500 crore for acquisitions, inorganic growth and to reduce debt. The company plans to raise the funds either by way of preferential issue of securities, QIP, or any other equivalent capital-raising method.

In a regulatory filing, AHEL said the funds would be used for acquiring the balance 50% stake in Apollo Gleneagles Hospital Ltd. (AGHL), Kolkata, for ₹ 410 crore, for inorganic growth, reduction of debt, technology upgradation and digital initiatives, and other general corporate purposes. Currently, 50% equity stake is held by Gleneagles Development PTE Ltd, Singapore. Consequent to this development, AGHL will become a wholly owned subsidiary of AHEL.

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