Apollo Hospitals to seek shareholders' nod for hiving off pharmacy biz

Front end of the business to go to a separate firm, which will focus on achieving Rs 10,000 cr revenue and 30% ROCE within 5 years

Apollo Hospitals Enterprise Ltd (AHEL) will convene a meeting of equity shareholders on October 21, based on the orders from National Company Law Tribunal (NCLT), for the approval of a scheme of arrangement to transfer the front end of its pharmacy business to a separate company called Apollo Pharmacies Ltd (APL).

APL is expected focus on the goal of achieving Rs 10,000 crore in revenues and 30 per cent combined Return On Capital Employed (ROCE) for the standalone pharmacy business in five years.

Currently, AHEL holds 100 per cent of the equity share capital of Apollo Medicals