Apollo Hospitals gets shareholders' approval to issue Rs 5-billion NCDs

Apollo Hospitals, India's largest hospital chain, on Friday informed stock exchanges that its shareholders had approved its plan to raise Rs 5 billion via issue of non-convertible debentures (NCDs). The issue was taken up for discussion at the company’s 37th annual general meeting on Thursday. 

The Prathap Reddy-led company had last month reported a strong 70.86 per cent year-on-year net profit growth during the quarter ended June 30 to Rs 601.6 million. It had posted a profit of Rs 352.1 million during the same period the previous year.

The company’s revenue during the June quarter grew 16 per cent to Rs 19.12