Apollo 24|7 raises Rs 2475 Cr from Advent International
India, April 27 -- Apollo HealthCo, a subsidiary of Apollo Hospitals Enterprise Limited (AHEL) has entered into a binding agreement to raise equity capital of Rs 2,475 crore from Advent International, one of the world's largest and most experienced global private equity investors.
In addition, Apollo 24|7 has entered into a framework agreement to integrate 100% of Keimed Private Limited, India's leading wholesale pharma distributor, in a phased manner over the next 24-30 months.
Advent shall invest in compulsory convertible instruments over 2 tranches to secure 12.1% stake in the merged entity, by valuing the combined entity at an enterprise value of Rs 22,481 crore.
Apollo 24|7 is valued at an enterprise value of Rs 14,478 crore. Keim...
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