Under the restructuring exercise, the company will first demerge its “Identified Business Undertaking” into Apollo Healthtech. Subsequently, both AHL and Keimed Private Limited will be merged into Apollo Healthtech, consolidating critical operations under one roof.
Through this move, AHEL aims to unlock value through strategic reorganisation, enabling the direct listing of its Omni-Channel Pharmacy and Digital Health business, the company said in a filing to the exchanges.
“The Composite Scheme creates a formidable Omni-Channel Pharmacy Distribution and Digital Health platform leader in India, with a revenue scale of Rs 16,300 crore (US$1.9 billion) in FY25, and stated plans to achieve Rs 25,000 crore in revenue by FY27, with a 7% EBITDA margin,” the company filing added.
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Following this transaction, Apollo Healthtech Limited will seek to list its equity shares on the NSE and BSE, paving the way for investors to participate directly in the reorganised entity.
Additionally, Apollo disclosed that an agreement was signed on June 30, 2025, between Rasmeli Limited, an existing shareholder of AHL, and AHL promoter Shobana Kamineni. Under the agreement, Rasmeli has agreed to share a portion of its investment upside with the promoter and key employees, aligning interests and rewarding performance.
AHEL shareholders will have direct shareholding in the combined entity. For every 100 shares of AHEL, shareholders will receive 195.2 shares of the new entity. The listing of the new entity is expected within 18-21 months, the company filing said.
Commenting on the development, Suneeta Reddy, Managing Director of Apollo Hospitals Enterprise, said: “This comprehensive integrated network, overlaid with a strong digital layer, will allow us to create an impact of magnitude greater than could be achieved with a single format of care. This proposal enables AHEL shareholders to gain direct shareholding in India’s largest Omni-Channel Pharmacy and Digital Health Platform, enabling full value discovery and eliminating any holdco discount in valuation.”
Meanwhile, AHEL will continue its focus on healthcare delivery, she added.
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