Indian hospital chain Apollo Hospitals said on Monday it will spin off and separately list its digital health and pharmacy unit within 18-21 months, as part of a reorganisation.
Apollo shareholders will receive 195.2 shares of the spun-off entity for every 100 shares they currently own.
The hospital operator will retain a 15% stake in the entity, which it is yet to be named, and will also have its nominee on the board of the new company.
Apollo Hospitals expects the new entity, which would also include pharmacy distributor Keimed, to clock revenue of about 250 billion rupees ($2.92 billion) for the year ending March 2027, and earnings before interest, taxes, depreciation and amortisation margin of roughly 7% for the same period.
Reuters
