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This is an archive article published on December 2, 2010

Apollo Hospitals looks to sell 49% in unit

Apollo Hospitals Enterprise may offload a stake in its pharmacy chain unit and list it too.

Apollo Hospitals Enterprise is looking to offload a 49 percent stake in its pharmacy chain unit and is also exploring the possibility of listing the unit in six months,a top official said on Thursday.

The hospital chain is planning to raise 5.5 billion rupees via equity,most probably an initial public offering (IPO) and debt for expansion by March,Suneeta Reddy,executive director-finance,told reporters.

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