KKR sells 27% stake in Max Healthcare Institute for over Rs 9,100 crore

The US non-public fairness main KKR on Tuesday bought 27 per cent stake in hospital chain Max Healthcare Institute for Rs 9,185 crore by means of open market transactions.

The shares have been picked up by a bunch 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 response to block deal knowledge with the BSE, KKR, by means of its affiliate Kayak Investments Holding Pte. Ltd, bought a complete of 26,01,96,762 fairness shares, amounting to 27 per cent stake within the firm.

The shares have been offloaded at a median value 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 yr. 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 finally purchase a majority stake in Max Healthcare Institute.