Apollo Hospitals Enterprise Ltd.

Apollo Hospitals Enterprise has allotted 13.81 lakh shares to Washington-based International Finance Corporation (IFC) as part of conversion of Foreign Currency Convertible Bonds (FCCBs) worth $7.5 million into equity.

Earlier in June 2009, Apollo Hospitals had issued 1,500 unsecured FCCBs of $10,000 each to the IFC aggregating to $15 million. In December 2010, IFC had converted 50% of the FCCB loan amount aggregating to $7.5 million into 11.40 lakh shares of Rs 5 each.

A committee of the board of directors met on June 7, 2012 and approved the allotment of 13,81,619 equity shares to IFC, Washington.

As per the terms of loan agreement, IFC had an option to convert the FCCBs so issued wholly or partly from time to time into shares. Post this conversion; there are no outstanding FCCBs with the company.