FIIs can buy 74% stake in Apollo Hospitals

The Reserve Bank of India (RBI) today permitted foreign institutional investors (FIIs) to purchase equity shares and convertible debentures of Apollo Hospitals Enterprise upto 74% of its paid-up capital under
portfolio investment scheme (PIS).

FIIs can purchase equity shares and convertible debentures through primary markets and stock exchanges as Apollo Hospitals has passed resolutions for PIS at its board of directors' and general body meetings, a release from the RBI said.