Apollo Hospitals Enterprise Ltd on Friday (August 22) announced that its Managing Director and key shareholder, Suneeta Reddy, has sold a 1.3% stake in the company through a block deal.
The transaction involved the sale of 1.9 million shares at a floor price of ₹7,850 per share, raising ₹1,489 crore ($170 million). This represented a discount of about 1% compared to Thursday’s closing price of ₹7,925, according to stock exchange data.
As of June 30, Reddy held 3.36% in Apollo Hospitals. Following the deal, the promoter group’s holding will decline from 29.3% to 28%. Importantly, pledged shares within the promoter group will reduce sharply from 13.1% to just 2%, fulfilling a prior commitment to investors to bring down pledging levels.
The company clarified that the sale proceeds will be used to repay promoter group debt, and emphasized that there are no immediate plans for further stake reduction. Morgan Stanley India Company acted as the selling broker.
In a statement, Apollo said:
The promoter group remains fully focused on driving growth across Apollo Hospitals, Apollo Health Co, and Apollo Health & Lifestyle, and is committed to delivering long-term value while ensuring access to quality healthcare for every Indian.
Suneeta Reddy’s sisters and fellow promoters hold smaller stakes: Preetha Reddy (0.73%), Shobana Kamineni (1.56%), and Sangita Reddy (1.69%).
On the performance front, the hospital chain reported a 42% year-on-year rise in Q1 FY26 net profit at ₹432.8 crore, compared to ₹305.2 crore a year earlier. Consolidated revenues grew 15% to ₹5,842.1 crore, against ₹5,085.6 crore in the previous quarter (Jan–Mar FY24). The profit surge was driven by healthcare services, retail healthcare, diagnostics, and digital & pharma distribution businesses.
As of June 30, Apollo Hospitals operated 8,030 beds across its network (excluding Apollo Health & Lifestyle Ltd and managed beds). Occupancy stood at 65%, slightly lower than 68% in the same period last year.