Private equity fund KKR will sell entire 27.5 percent stake in Max Healthcare via block deal this month, according to CNBC Awaaz. The stake would be offloaded by Kayak Investment, which is the KKR-affiliated entity that has invested in the healthcare company.
KKR is likely to raise Rs 9000 crore via the share sale and will sell entire 26.7 crore shares. The block is likely at upto five per cent discount to market price, according to CNBC-TV18.
As of June last year, Kayak Investments held 45.63 crore shares or 47.24 percent stake in Max Healthcare. On September 29, the company sold 8.44 crore shares for Rs 2,956 crore through open market transactions. The shares were picked up by HDFC Mutual Fund, Veritas Funds Plc and SBI Mutual Fund, among others.
On Friday, shares of Max Healthcare closed 2.74 per cent lower at Rs 361.55 apiece on the BSE. Moneycontrol