The Promoter Group of Apollo Hospitals, represented by Ms. Suneeta Reddy, sold 18,97,239 equity shares—equivalent to a 1.3% stake—in Apollo Hospitals Enterprise Ltd through a block deal on Thursday. The shares were sold at ?7,850 apiece, reflecting a 1% discount to the previous day’s closing price.

Proceeds from the transaction will be used to reduce the Promoter Group’s outstanding debt. Following the sale, the Group’s holding in Apollo Hospitals will decline to 28% from 29.3%, while pledged shares as a percentage of total holdings will come down significantly from 13.1% to 2%. This fulfils an earlier commitment to investors to reduce pledged shares.

Morgan Stanley India Company Pvt. Ltd. acted as the selling broker for the transaction.

The Promoter Group reaffirmed its commitment to the growth of Apollo Hospitals, Apollo HealthCo, and Apollo Health and Lifestyle, emphasizing its long-term focus on delivering quality healthcare. It also clarified that there are no plans for further stake reduction in the near future.