Apollo Hospitals gets shareholders' approval to issue Rs 5-billion NCDs

New Delhi: Apollo Hospitals, India's largest hospital chain, has recently informed stock exchanges that its shareholders had approved its plan to raise Rs 5 billion via the issue of non-convertible debentures (NCDs). The issue was taken up for discussion at the company’s 37th annual general meeting on Thursday.

The Prathap Reddy-led company had last month reported a strong 70.86 per cent year-on-year net profit growth during the quarter ended June 30 to Rs 601.6 million. It had posted a profit of Rs 352.1 million during the same period the previous year.