Apollo Hospitals share price rallied over 4% to hit 52-week high on Tuesday after the company’s board approved separate listing of its omnichannel pharmacy and digital health businesses within 18-21 months, as part of reorganisation exercise to unlock value. Apollo Hospitals shares jumped as much as 4.7% to a fresh high of ₹7,583.30 apiece on the BSE.
The board of directors of Apollo Hospitals Enterprise and Apollo HealthCo, a subsidiary of the healthcare major, have accorded in-principle approval for the composite scheme of arrangement.
The scheme entails the demerger of the Omni Channel Pharma and Digital Health business – comprising the telehealth business of Apollo and its investment in Apollo HealthCo Ltd – into a new entity.
Following the demerger, the scheme provides for the amalgamation of Apollo HealthCo with the new entity.
At 10:15 AM, Apollo Hospitals share price was trading 3.28% higher at ₹7,480.00 apiece on the BSE.
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