Apax held a 9.67 per cent stake in Apollo, the country’s biggest hospital chain, ahead of the sale according to filings with the Bombay Stock Exchange.
Oppenheimer picked up about 6.3 million shares at INR830 each.
Last month Apollo chairman Prathap Reddy announced to Bloomberg that Apax planned to sell just over half of its stake, but claimed he would buy it or take it from the market.
Apollo owns or manages about 50 hospitals across India with more than 8,250 beds.
Apax paid about $104m for an 11.5 per cent stake in Apollo Hospitals in 2007, joining investors including the Bank of New York, Bisikan Bayu Investments Mauritius, FID Funds and Emerging Markets Growth Fund.
Reports last year confirmed Apax has called time on marketing its eighth buyout fund after taking the decision that its €9bn target was too high.
The firm is understood to have set a soft March deadline for commitments from investors, partly in an effort to pressure cash-constrained and undecided investors to commit.
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