New Delhi, Aug. 22 -- Apollo Hospitals Enterprises Ltd's managing director Suneeta Reddy offloaded a partial stake in the company on Friday via a block deal to pare the promoter group's outstanding debt.

The promoter group's holding in Apollo Hospitals dropped from 29.3% to 28% following the sale, and their pledged holdings as a percentage of their total ownership will reduce from 13.1% to 2%, the company said in an exchange filing.

The transaction fulfilled a commitment made to investors on reducing the pledged holdings, the company said. The promoter group does not plan to reduce more stake in the foreseeable future, it added.

Reddy sold nearly 1.9 million shares, equating to a 1.3% equity stake in Apollo Hospitals, at Rs.7,850 apiec...