KKR affiliate sells part of its stake in Max Healthcare

Shares worth ~2,956 crore of Max Healthcare changed hands on Wednesday in a bunch of bulk deals. The shares were sold by Kayak Investment holdings, an affiliate of the private equity firm KKR for ~350 per share. The buyers include HDFC Mutual Fund, SBI Mutual Fund, and Veritas Funds. Kayak Investment Holdings is part of the company's promoter group and is the single biggest shareholder and held 47.24 per cent stake as of June 2021. Max Healthcare’s stock ended Wednesday’s session at Rs 355,witnessing a decline of 3.6 per cent.