Apollo Hospitals to bring down promoter-pledged shares to 25-30%

The acquisition of shares by HDFC is expected to be completed by January 9, 2020, said AHEL

Apollo Hospitals Enterprise Ltd (AHEL) may see the promoter-pledged shares in the company coming down to around 25-30 per cent by the end of January, with the HDFC's proposed acquisition of the Apollo Hospital Group's shares in Apollo Munich Health Insurance Company Ltd (AMHI) getting necessary regulatory approvals.

AHEL said on Thursday that AMHI, HDFC and HDFC Ergo General Insurance Company Ltd had received requisite approvals for the acquisition from the Competition Commission of India, the Reserve Bank of India and more recently, from the Insurance Regulatory and Development Authority of India (IRDAI) on January 1, 2020. The acquisition of