India: Apollo raises Rs11.7bn to fund acquisition

Apollo Hospitals Group, India’s largest hospital chain, has raised Rs11.7bn (US$160m) through the sale of around 4.7m shares to help it buy out IHH Healthcare’s 50% stake in their Indian joint venture in Kolkata. The shares went at the top of the Rs2,457-Rs2,511 range which was a 3.8% discount to the previous close. A banker…