NEW DELHI: The US private equity major KKR on Tuesday sold 27 per cent stake in hospital chain Max Healthcare Institute for Rs 9,185 crore through open market transactions. The shares were picked up by a host of entities, including the Government of Singapore, Monetary Authority of Singapore, Smaller Cap World Fund Inc, New World Fund Inc, WF Asian Smaller Companies Fund Ltd and BNP Paribas Arbitrage.
According to block deal data with the BSE, KKR, through its affiliate Kayak Investments Holding Pte. Ltd, sold a total of 26,01,96,762 equity shares, amounting to 27 per cent stake in the company.
The shares were offloaded at an average price of Rs 353 apiece, valuing the transactions at Rs 9,184.94 crore.
Shares of Max Healthcare rose around 10 per cent to settle at Rs 396.70 apiece on BSE. During intra-day session, the scrip touched a high of Rs 404.6 and a low of Rs 353.
KKR has been divesting its stake in Max Healthcare from the last one year. Its stake in the company dropped to 27.54 per cent stake at the end of June 2022 from 47.24 per cent stake at the end of June 2021.
In 2018, KKR-backed hospital management firm Radiant Life Care had announced a multi-layered deal to eventually acquire a majority stake in Max Healthcare Institute.
According to block deal data with the BSE, KKR, through its affiliate Kayak Investments Holding Pte. Ltd, sold a total of 26,01,96,762 equity shares, amounting to 27 per cent stake in the company.
The shares were offloaded at an average price of Rs 353 apiece, valuing the transactions at Rs 9,184.94 crore.
Shares of Max Healthcare rose around 10 per cent to settle at Rs 396.70 apiece on BSE. During intra-day session, the scrip touched a high of Rs 404.6 and a low of Rs 353.
KKR has been divesting its stake in Max Healthcare from the last one year. Its stake in the company dropped to 27.54 per cent stake at the end of June 2022 from 47.24 per cent stake at the end of June 2021.
In 2018, KKR-backed hospital management firm Radiant Life Care had announced a multi-layered deal to eventually acquire a majority stake in Max Healthcare Institute.
For all the latest business News Click Here
Denial of responsibility! TechAI is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
