Wednesday, July 30, 2025

Creating liberating content

NEW DELHI: IndiGo saw its Q1 FY 2026 drop 20

The Indian Banks’ Association’s proposal for a five-day work week

Piotr Swat | Lightrocket | Getty Images Palo Alto Networks

Related News

NEW DELHI: IndiGo saw its Q1 FY 2026 drop 20 per cent to Rs 2,176.3 crore from Rs 2,728.8 crore in same period last year due to the serious hit

The Indian Banks’ Association’s proposal for a five-day work week in banks, declaring all Saturdays as holidays, is under government consideration. While the finance ministry acknowledges the proposal, it clarifies

File photo: US President Donald Trump (Picture credit: PTI) US President Donald Trump’s recent tariff warnings to India have drawn sharp criticism from Indian trade experts, with Professor Rakesh Mohan

Piotr Swat | Lightrocket | Getty Images Palo Alto Networks will take over Israeli identity security provider CyberArk in a deal valued at roughly $25 billion. The California-based cybersecurity company

T N Manoharan, renowned chartered accountant, former chairman of IDBI Bank and one of India’s most respected financial minds, passed away on Wednesday. He was widely acknowledged for his leadership

The Income Tax Department has enabled utilities for filing updated income tax returns (ITR-U) through ITR-1 and ITR-2 forms for assessment years (AY) 2021-22 and 2022-23, in accordance with Finance

Trending News

NEW DELHI: IndiGo saw its Q1 FY 2026 drop 20 per cent to Rs 2,176.3 crore from Rs 2,728.8 crore in same period last year due to the serious hit

File photo: US President Donald Trump (Picture credit: PTI) US President Donald Trump’s recent tariff warnings to India have drawn sharp criticism from Indian trade experts, with Professor Rakesh Mohan

T N Manoharan, renowned chartered accountant, former chairman of IDBI Bank and one of India’s most respected financial minds, passed away on Wednesday. He was widely acknowledged for his leadership

Pakistan’s government is moving swiftly toward integrating cryptocurrency into its financial ecosystem, aiming to bring digital currencies into mainstream banking, forex operations, and gold trading, according to a Wednesday media

The EU sanctions against Russia are expected to have significant implications for Indian refiners, according to a recent ICRA report.On July 18, the EU implemented its 18th sanctions package against

Nayara’s lawyer told a New Delhi court today that the services have been restored by Microsoft. EU sanctions on Russia: Global IT giant Microsoft has restored IT services to Russia-backed

Apollo Hospitals to hive off pharmacy, digital biz | Chennai News

Word Count: 646 | Estimated Reading Time: 4 minutes


Apollo Hospitals to hive off pharmacy, digital biz

Chennai: Apollo Hospitals Enterprise, controlled by the Prathap Reddy family, has announced a significant reorganisation where its pharmacy distribution and digital health operations will be carved out into a separate entity. This new entity, Apollo Healthtech, will seek listing on stock exchanges over the next 18 to 21 months, with current Apollo Hospitals shareholders receiving proportionate shares in the new company. The deal will create a leading omni-channel pharmacy distribution and digital health platform in India with revenues of Rs 16,300 crore ($1.9 billion), Apollo Hospitals said in a statement. Currently, Apollo Healthco (AHL) manages the wholesale pharmaceutical trading and Apollo 24/7 digital platform, while Keimed oversees wholesale distribution of pharmaceuticals and wellness products. Apollo Hospitals holds about 79% ownership in AHL, and Keimed operates as a related party to Apollo Hospitals.The share allocation structure stipulates that for every 100 shares held in Apollo Hospitals, shareholders will receive 195.2 shares in the new company. AHL shareholders will get 89.5 shares for every 100 shares owned, while Keimed shareholders will receive 3045.2 shares for every 100 shares held. Following the completion of this demerger, both AHL and Keimed will cease to exist.Under the agreement terms, Apollo Hospitals shall restrict its pharmaceutical operations exclusively to hospital-based pharmacies, refraining from any involvement in e-commerce, retail or wholesale pharmacy ventures. Veda Corporate Advisors was the exclusive financial advisor to the transaction.The new company, Apollo Healthtech, will subsequently acquire 74.5% stake in Apollo Medicals, consolidating the front-end pharmacy business. Apollo Hospitals will own a 15% stake in Apollo Healthtech and will have one nominee director on the board, the Chennai-based company said. Apollo Hospitals chairman Prathap C Reddy, said: “Today’s developments mark the beginning of the next chapter of Apollo Hospitals. The omnichannel pharmacy business and integrated digital healthcare ecosystem will be a unique model to enable access to high-quality healthcare for millions of Indians.”





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account