Apollo Hospital Promoter to Offload 1.25% Stake in Rs 1,394.5 Crore Block Deal

Apollo Hospital Enterprises, a leading healthcare provider in India, is set to witness a significant share sale by one of its promoters. Suneeta Reddy Pottipati, a key promoter of the company, has announced plans to sell shares worth Rs 1,394.5 crore through a block deal, representing a 1.25% stake in the hospital chain.

Block Deal Details

The floor price for the share sale has been set at Rs 7,747.00 per share, which represents a 2.26% discount from the previous closing price of Rs 7,926.50. Morgan Stanley has been appointed as the sole bookrunner for this transaction, overseeing the execution of the block deal.

Strong Quarterly Performance

The announcement of the share sale comes on the heels of Apollo Hospitals' impressive quarterly results:

• Net profit rose by 42% to Rs 433.00 crore, surpassing analyst estimates of Rs 377.20 crore
• Revenue grew by 14.9% year-on-year to Rs 5,842.00 crore
• Operating income increased by 26.2% to Rs 852.00 crore
• EBITDA margin expanded to 14.6%

Stock Performance and Analyst Outlook

Apollo Hospitals' stock has shown robust performance in recent periods:

• Gained 17.29% over the past 12 months
• Up 8.55% year-to-date

The company continues to enjoy strong support from analysts:

• Out of 31 analysts covering the stock, 27 maintain buy ratings
• The average price target stands at Rs 8,570.90, suggesting an 8.1% upside potential from the current levels

This block deal by the promoter and the company's strong financial performance underscore the dynamic nature of Apollo Hospitals' market position in the healthcare sector. Investors and market watchers will likely keep a close eye on how this transaction unfolds and its potential impact on the stock's performance in the coming days.