Apollo Hospitals allots 13.8 lakh shares to IFC in lieu of FCCBs

The Apollo Hospitals board has approved the allotment of 13.8 lakh equity shares to International Finance Corporation (IFC), Washington, as the latter insisted to convert their foreign currency convertible bonds (FCCBs). With this, the company has no outstanding FCCBs. IFC, a member of the World Bank Group, finances and provides advice for private sector ventures and projects in developing countries.