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AV Birla Group Front-runner For Reddys Stake In Apollo Sindhoori

Posted on June 09, 2008

Chennai-based Apollo Sindhoori Capital Investments, a leading stock broking firm promoted by Apollo Hospitals group chairman Pratap Reddy, is looking to induct a strategic investor and among those in the race include Aditya Birla Group, Reliance Capital and JP Morgan, says a report.The AV Birla Group is believed to be the front-runner for the deal, which could see the acquirers picking up 51 percent held by the promoters in the listed company triggering an open offer. The promoters who hold 65 percent in the firm are unlikely to exit completely while giving up management control to the strateg...

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bombay stock exchange , bse , nse