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Apollo Hospitals gains 4%, hits new high on successful fund raising via QIP

Shares of Apollo Hospitals Enterprises jumped 4 per cent in intra-day trade on Monday to hit a new high of Rs 2,688, in an otherwise subdued market, after the company said it has raised Rs 1,170 crore via qualified institutional placement (QIP) issue. The stock surpassed its previous high of Rs 2,683 touched on January 21.
In the past three months, the stock has outperformed the market by surging 30 per cent as compared to a 20 per cent rise in the S&P BSE Sensex. At 01:32 pm, the benchmark index was up 0.07 per cent at 48,911.
Apollo Hospitals Enterprises, engaged in healthcare facilities business, has allotted 4.66 million equity shares to 102 qualified institutional buyers (QIBs) at a price of Rs 2,511 per share, according to a disclosure made by the company to stock exchanges. It had the fixed floor price at Rs 2,508.58 per share.

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India: Apollo Hospitals launches $136m QIP; scouts for acquisitions

India: Apollo Hospitals launches $136m QIP; scouts for acquisitions
Photo: Pixabay
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Eyeing inorganic growth, debt reduction and investment in building digital capabilities, India’s largest private hospital chain Apollo Hospitals Enterprise Ltd on Monday launched a so-called qualified institutional placement (QIP) offering, to raise as much as Rs1,000 crore by selling shares to institutional investors.
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Apollo Hospitals opens QIP with floor price of Rs 2,508.58 a share

Apollo Hospitals has opened QIP today with floor price set at Rs 2,508.58 a share.
Business Standard had reported last month that Apollo Hospitals was planning to raise up to Rs 1,500 crore from investors to support its inorganic growth, strengthen its balance sheet and its digital platform.
Sources said that the hospital chain is targeting large Domestic Mutual Funds, Sovereign Funds among others.
The money, according to hospital sources, will be deployed in Apollo 24/7, the company's six-month old digital health platform. The money will also be used to support growth in the hospital business and to deleverage the balance sheet.
The hospital chain is also prepared for any bolt on acquisitions that would strengthen its presence in key markets that we have identified.

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