The promoters of Apollo Hospitals Enterprise Limited (NSEI:APOLLOHOSP) (AHEL) are planning to reduce pledged shares in AHEL by 50% with the stake sale in Apollo Munich Health Insurance Company Limited to HDFC Bank Limited (NSEI:HDFCBANK). The stake of promoters in AHEL is 34% of which three-fourth is pledged. Suneeta Reddy, Managing Director and Promoter of Apollo Hospitals Enterprises stated that promoters are looking for a strategic partner in the education business to raise funds for reducing pledged shares in AHEL.
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