Apollo Hospital to issue FCCBs to IFC

Apollo Hospitals Enterprise Ltd has announced that the Board of Directors of the Company at its meeting held on June 29, 2009, inter alia, has approved issue of Foreign Currency Convertible Bonds (FCCBs), subject to regarding approvals being obtained, including approval of the members of the Company for a value up to USD 15,000,000 to International Finance Corporation ("IFC"), Washington.

The Board also approved raising loan in Foreign Currency in the form of External Commercial Borrowing (ECB) of USD 35 millions from International Finance Corporation (IFC), subject to required approvals being obtained.

The stock closed the day at Rs.566.90, down by Rs.35.70 or 5.92%. The stock hit an intraday high of Rs.604 and low of Rs.555.

The total traded quantity was 8920 compared to 2 week average of 23686.

Source : Equity Bulls

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