KKR & Co, a US private equity firm will sell 10 percent of its stake in Max Healthcare through multiple block details to raise Rs 3500 crore. An affiliate of KKR, Kayak Investment will sell shares in the range of Rs 340 to Rs 361 apiece, offering a discount of up to 6 percent from its Wednesday’s close.
The US private equity firm had bought the stake in Max in 2018. It will sell 7.76 crore shares in the base case and have an option to upsize the offering to sell another 1.93 crore shares.
KKR along with Mumbai-headquartered Radiant had acquired 49.70 percent stake in Max Healthcare from South Africa-based Life Healthcare Group Holdings for about Rs 2,120 crore.
