Apollo Hospitals Spins Off Digital Health Arm, Eyes Listing Within 21 Months

Apollo Hospitals Enterprise Ltd. said its board has approved a reorganisation that will carve out the company’s omnichannel pharmacy, digital health and tele-consultation businesses into a new entity, Apollo Healthtech. The plan involves merging subsidiary Apollo Healthco and wholesale distributor Keimed Pvt. Ltd. into the vehicle, which will then seek a separate listing on India’s NSE and BSE within 18 to 21 months.

The combined business generated about ₹16,300 crore (US$1.9 billion) in revenue in the fiscal year ending March 2025 and is targeting ₹25,000 crore by fiscal 2027 with an EBITDA margin of roughly 7%, according to company filings. Its platform spans more than 7,000 pharmacy outlets and fulfils orders across 19,000 pincodes.

Under the scheme, Apollo Hospitals shareholders will receive 195.2 shares of Apollo Healthtech for every 100 shares held, while the parent will keep a 15% stake and nominate one director to the new board. Management said the restructuring is aimed at unlocking value and creating India’s leading integrated digital health and pharmacy distribution platform.