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Temasek Holdings, the Singapore government's investment arm, has sold its entire 5.26 per cent stake in healthcare major Apollo Hospitals Enterprise for Rs 133.68 crore (Rs 1.34 billion).
Temasek sold its stake, which was held through two investment firms namely Maxwell Mauritius Pte and Aranda Investments.
According to data available from the Bombay Stock Exchange's website, Maxwell Mauritius Pte sold 20.79 lakh (2.07 million) shares, while Aranda Investment Pte sold 640,000 shares for Rs 491.50 each.
Aranda Investments held 640,000 shares, representing 1.24 per cent stake and Maxwell Mauritius held around 20.79 lakh shares representing 4.03 per cent in the Chennai-based healthcare group, shareholding structure at the end of December 31 shows.
The Apollo stock today closed at Rs 490 on the Bombay Stock Exchange, marginally lower than yesterday's close of Rs 490.90.
Meanwhile, another fund house Fid Funds Mauritius of Fidelity Investments bought 29.4 lakh (2.94 million) shares, or 5.7 per cent of Apollo for around Rs 144.62 crore (Rs 1.45 billion) at the same price Temasek's units sold their stakes.
Fidelity Select Portfolios Medical Delivery Portfolio already holds 723,000 shares, representing 1.4 per cent stake in Apollo.
The Reddy family, promoters, hold 31 per cent stake in the company.
Other major shareholders include Bisikan Bayu Investments (10.6 per cent), Smallcap World Fund (4.3 per cent), Oppenheimer Funds (2.9 per cent), Emerging Markets Growth Fund (2.7 per cent) and Fidelity (1.4 per cent).