KKR to exit Max Health, may sell up to 26.83% stake via block deal

US private equity major KKR may exit Max Health via share sale of its entire 26.83 percent stake via block deal on August 16. It is likely to raise Rs 9,416.5 crore through the transaction.

The company would be offloading a total of 26.7 crore shares it holds in Max Healthcare, at a price band of Rs 350-361.9 per share, as per the deal terms released on August 15.

 

The stake sale, via a block deal, will be executed through Kayak Investment, which is the KKR-affiliated entity that has invested in the healthcare company.

The base offer is for around 20 percent stake or 19.3 crore shares, and the upsize option is for the remaining 6.83 percent stake or 6.6 crore shares, it added. The total deal value is estimated to be of approximately Rs 9,416 crore at the upper end.