Apollo Hospitals Enterprise Ltd.s' share price rose 4.73% on Tuesday following the group's announcement to list its new subsidiary, Apollo Healthtech Ltd.
This new entity will be formed through the amalgamation of two subsidiaries, Apollo Healthco Ltd. and Keimed Pvt., which will be demerged from the parent company, as per an exchange filing on Monday.
Apollo Healthtech Ltd. is expected to be listed on the National Stock Exchange of India and BSE within the next 18 to 21 months. The new arm will focus on the pharmacy and digital health business, including the wholesale distribution of pharmaceutical, healthcare, and wellness products. It will also manage the development, operation, and management of the Apollo 24/7 online platform and the telehealth business.
The company projects that Apollo Healthtech will achieve a revenue run rate of Rs 25,000 crore.
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