Apollo Hospitals To Seek Shareholders’ Nod To Raise Up To Rs 1,500 Crore
An Apollo Speciality Hospital, operated by Apollo Hospitals Enterprises Ltd., stands in Chennai, India. (Photographer: Dhiraj Singh/Bloomberg)

Apollo Hospitals To Seek Shareholders’ Nod To Raise Up To Rs 1,500 Crore

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Healthcare major Apollo Hospitals Enterprise Ltd. on Wednesday said its board has approved the proposalto seek shareholders' nod for raising up to Rs 1,500 crore by way of postal ballot.

The board has also approved to constitute a fundraising committee for this, Apollo Hospitals said in a BSE filing.

The committee would be entrusted with powers on behalf of the board to implement and administer all aspects related to the capital raising exercise, it added.

This would include, "the size and composition of the issue, approval of the Preliminary Placement Document and the Placement Document, determination of the issue opening and closing dates, approval of allocations and final allotments, and other matters relating to the issue from time to time, including obtaining requisite approvals for listing and trading of the newly issued shares," the filing said.

Also read: Prepared To Administer 1 Million Covid-19 Vaccines A Day: Apollo Hospitals Group

In November the company said its board had approved raising up to Rs 1,500 crore by way of issue of securities through a preferential issue or qualified institutional placement or any equivalent capital raising method.

Shares of Apollo Hospitals Enterprise Ltd. closed at Rs 2,411.70 per scrip on BSE, down 1.99% over previous close.

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