Apollo Hospitals share price declined nearly 1% in intraday deals on Friday, August 22, following reports of a block deal in the counter wherein the promoter likely sold stakes.
According to a Reuters report, Apollo Hospitals shares worth ₹1,489 crore ($170.5 million) were offloaded in a block deal. About 1.9 million shares were sold at a floor price of ₹7,850 apiece, a discount of nearly 1% to Thursday’s closing level.
A CNBC-TV18 report on Thursday said that Apollo Hospitals’ Managing Director Suneeta Reddy is likely to divest up to 1.25% stake worth ₹1,395 crore.
Reddy held a 3.36% stake in the company as of June 30, according to the latest shareholding data.
(This is a developing story. Check back for updates.)
