Apollo is a publicly traded company in India. The Founder, Dr. Reddy, and family members own 34% of the shares. Other shareholders include institutional investors, with each investor’s ownership less than 5%, and Maxwell, a subsidiary of Temasek, investment arm of the Singapore government, with a 5% stake.

The total project cost is $60-70million. The proposed IFC investment is up to $20 million in equity.

20.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	20.0

* These investment figures are indicative

The proceeds will be used for a number of expansion opportunities, at various locations in India and abroad, as well as for general corporate purposes.

By strengthening Apollo’s position of a leading healthcare network, the project will raise the overall quality of private medical services delivery in India and have a strong demonstration effect throughout the region. Expanding Apollo’s infrastructure, particularly setting up of primary and secondary care facilities in smaller towns, will improve access to high quality services for the growing middle class population. Subscription to Apollo’s equity provides a platform for building a strong long-term relationship between IFC and the Apollo group, a key player on the booming Indian healthcare market, with excellent growth potential domestically and capacity to undertake a number of South-South investments by expanding into new markets.

This is a category B project according to IFC’s environmental review procedure because specific impacts may result that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted primarily of discussions with Apollo management on its systems for managing environmental, social, health and safety issues; a limited appraisal of technical, environmental, social and occupational safety and health information made available for review by the Company at its Indraprastha Apollo Hospital in Delhi; and a site visit to the Indraprastha Apollo Hospital in Delhi. Based on this information, IFC concludes that the proposed project will meet the applicable World Bank/IFC environment and social policies and the environmental, health and safety guidelines.
Location of environmental documents in locally affected community
The ERS will be made available on IFC’s website and, upon request, at the company’s headquarters: No.19 Bishop Gardens Raja Annamalaipuram Chennai 600 028, India An advertisement in The Times of India will inform the local community of the availability of the ERS.