Apollo Hospitals to raise Rs.2000 Crore

Apollo Hospitals is looking to raise around $400 million (Rs 2,500 crore) by selling between 51% and 75% stake in a business trust to overseas investors through listing on the Singapore Stock Exchange, three persons with direct knowledge of the development said. The move will help company pare debt and build new hospitals.

The company has mandated investment bank Nomura to manage the issue and consultant PricewaterhouseCoopers is advising it on the structure.

Source: ET