The US personal fairness main KKR on Tuesday offered 27 per cent stake in hospital chain Max Healthcare Institute for Rs 9,185 crore via open market transactions.
The shares had been picked up by a number of entities, together with the Authorities of Singapore, Financial Authority of Singapore, Smaller Cap World Fund Inc, New World Fund Inc, WF Asian Smaller Firms Fund Ltd and BNP Paribas Arbitrage.
In line with block deal information with the BSE, KKR, via its affiliate Kayak Investments Holding Pte. Ltd, offered a complete of 26,01,96,762 fairness shares, amounting to 27 per cent stake within the firm.
The shares had been offloaded at a mean worth of Rs 353 apiece, valuing the transactions at Rs 9,184.94 crore.
Shares of Max Healthcare rose round 10 per cent to settle at Rs 396.70 apiece on BSE. Throughout intra-day session, the scrip touched a excessive of Rs 404.6 and a low of Rs 353.
KKR has been divesting its stake in Max Healthcare from the final one 12 months. Its stake within the firm dropped to 27.54 per cent stake on the finish of June 2022 from 47.24 per cent stake on the finish of June 2021.
In 2018, KKR-backed hospital administration agency Radiant Life Care had introduced a multi-layered deal to ultimately purchase a majority stake in Max Healthcare Institute.