Apollo Hospitals divests 50% stake in AHIL to Cadila Pharmaceuticals

Apollo Hospitals Enterprise Ltd has announced that Apollo Hospitals International Ltd (AHIL) (formerly known as Akshaya Apollo Hospitals Ltd), an unlisted Company, is promoted by the Company and runs 350 Bed Super Speciality Hospital in Ahmedabad. The shareholding pattern of AHIL was as follows:-

1. Subscribers to Memorandum & Articles of Association - 15,970 No. of Shares - 0.04%

2. Apollo Hospitals Enterprise Ltd - 22,330,000 No. of Shares - 55.35%

3. ICICI Ltd - 6,666,666 No. of Shares - 16.52%

4. IDBI Ltd - 3,333,333 No. of Shares - 8.26%

5. IDFC Ltd - 8,000,000 No. of Shares - 19.83%

Total - 40,345,969 No of Shares - 100.00%

In pursuance of the agreements / undertakings with the financial institutions, the Company bought back the entire equity holdings of institutions through its wholly owned subsidiary, Unique Home Healthcare Ltd. The Company also entered into an agreement with Cadila Pharmaceuticals Ltd, Ahmedabad engaged in the business of manufacturing and marketing various pharmaceutical, medicinal and hospital products for sale of 50% equity of AHIL and the transaction was completed on August 31, 2006.

Consequently, the current shareholding pattern of AHIL is as follows:-

1. Apollo Hospitals Group - 20,172,985 No of Shares - 50%

2. Cadila Pharmaceuticals Ltd - 20,172,985 No of Shares - 50%

Total - 40,345,970 No of Shares - 100%

Source : Equity Bulls

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