Apollo Hospitals Enterprise Ltd. (AHEL) is planning to raise up to ₹1,500 crore for acquisitions, inorganic growth and to reduce debt. The company plans to raise the funds either by way of preferential issue of securities, QIP, or any other equivalent capital-raising method.In a regulatory filing, AHEL said the funds would be used for acquiring the balance 50% stake in Apollo Gleneagles Hospital Ltd. (AGHL), Kolkata, for ₹410 crore, for inorganic growth, reduction of debt, technology upgradation and digital initiatives, and other general corporate purposes. Currently, 50% equity stake is held by Gleneagles Development PTE Ltd, Singapore. Consequent to this development, AGHL will become a wholly owned subsidiary of AHEL.
A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath