Healthcare services provider Apollo Hospitals Enterprise today said its two promoters -- Preetha Reddy and Sangita Reddy -- have sold 19.4 lakh shares of the company to a promoter group entity PCR Investments for about Rs 120 crore.
According to bulk data available with the stock exchanges, PCR Investments, a promoter group entity, has purchased the shares from Reddys, also promoters, through open market transactions.
Individually, Preetha Reddy offloaded 9.50 lakh shares, of Apollo Hospitals Enterprise while Sangita Reddy sold 9.90 lakh shares of the companies.
Shares were sold at average of price of Rs 619 apiece valuing the deal to Rs 120 crore.
As on June 30, Preetha Reddy held 2.48 per cent stake in the healthcare firm, while Sangita Reddy held 3.22 per cent holding in Apollo Hospitals Enterprise.
PCR Investments Ltd held 16.76 per cent stake in Apollo Hospitals Enterprise at the end of June quarter.
Apollo Hospitals operates over 53 hospitals with 8,500 beds across in the country.
Shares of the company closed 0.65 per cent higher at Rs 622.05 apiece on the BSE.
