Global private equity investment group Apax Partners has sold a 3.88 percent stake in Indian hospital operator Apollo Hospitals Enterprise to investment management firm Oppenheimer Funds for INR4.45 billion (approximately US$83 million). The transaction took place through a bulk share sale on the Bombay Stock Exchange and National Stock Exchange and follows a similar share sale undertaken by Apax in mid-February 2013. Apax originally invested in Apollo in 2007 and retains around 3 percent stake of the company after the sale.