Kayak Investments pares stake in Max Healthcare; sells shares worth Rs 2,956cr

New Delhi: Kayak Investments Holding, one of the promoter entities of Max Healthcare Institute Ltd, on Wednesday sold 8.44 crore shares of the company for Rs 2,956 crore through open market transactions. The shares were picked up by Veritas Funds Plc, SBI Mutual Fund and HDFC Mutual Fund among others.

According to bulk deal data available with the National Stock Exchange (NSE), Kayak Investments, an affiliate of private equity major KKR, offloaded 8.44 crore shares of Max Healthcare.

As many as 6.02 crore shares were sold at an average price of Rs 350, while 2.42 crore scrips were divested at Rs 350.13. At these prices, the transactions were valued at Rs 2,955.74 crore.

As of June 2021, Kayak Investments held 47.24 per cent stake or 45.63 crore shares in Max Healthcare.

Max Healthcare settled at Rs 355.75 apiece on the NSE, down 3.77 per cent from the previous close.

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