Apollo Hospitals Enterprise will separate its Omnichanal Pharmacy and Digital Health Business and List. The company’s board approved this proposal on 30 June. There is a plan to get this listing done within 18-21 months. Apollo Hospitals says its board has given this approval as part of the reorganization to unlock the value. The company has informed the stock markets about this, as well as a statement.
It has been said that the board of Apollo Hospitals and its subsidiary Apollo Healthco has given in -principle approval for the Composite Scheme of Arrangement. Under the scheme, Omnichanal Pharma and Digital Health Business will be separated in a new entity Apollo Healthtech. After this, Apollo Healthco Limited will be merged into this new entity. Not only this, the Halesale Pharma distributor ‘Chemade Private Limited’ will also be merged with Apollo Healthtech.
Apollo Hospitals will have 15 percent stake
When the scheme is effective, the new created entity will become an Indian Ond and Controlled Company (IOCC) and will apply for listing in stock exchanges. The listing is expected to be done within 18-21 months. Apollo Hospitals Enterprise Limited (AHEL) will have a 15 percent stake in this new entity. Along with the required approval and no objection certificate from the stock markets, SEBI on this scheme, the Insurance Regulatory and Development Authority of India, the Competition Commission of India, the shareholders of companies included in the scheme, the Creditors, Creditors, NCLT’s Credit Credits, NCLT’s Chennai benches are to be taken.
Apollo Hospitals Enterprise What change for shareholders of
Under the Scheme of Arrangement, the new entity of the shareholders of Apollo Hospitals Enterprise will be direct shareholding. Eligible shareholders will get 195.2 shares of the new entity Apollo Healthtech on every 100 shares of Apollo Hospitals Enterprise. A record date will be set soon to decide the eligibility of shareholders.
The share of Apollo Hospitals Enterprise closed at Rs 7242.75 on June 30, with a decline of nearly 1 percent on BSE. The company’s market cap is Rs 1 lakh crore. The stock has gained 17 percent in a year and 9 percent in 3 months.
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