Apollo Hospitals shares in focus as subsidiary raises stake in Keimed for Rs 625 crore
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Apollo Hospitals shares will be in focus on Monday after its subsidiary, Apollo Healthco (AHL), announced plans to acquire an additional 11.2% stake in Keimed Pvt Ltd for Rs 625.43 crore from promoter Shobana Kamineni. In a regulatory filing, Apollo Hospitals stated that its board had approved AHL’s acquisition of 11.2% of Keimed’s issued and paid-up share capital in two tranches. The purchase will be made from Shobana Kamineni, a related party, for Rs 625.43 crore. Additionally, AHL will invest Rs 99.99 crore in Keimed as a primary investment, as per the terms of a framework agreement executed among AHL, Keimed, and Keimed’s shareholders. Also Read: Stocks in news: Adani Green, Adani Enterprises, NCC, Godrej Properties, Max Healthcare Apollo Hospitals Q3 earnings Apollo Hospitals reported a 52% year-on-year (YoY) increase in its consolidated net profit, reaching Rs 372 crore for the December 2024 quarter, driven by higher sales. The comp...