320-x-100_uti_gold.jpg" alt="Advertisement">
Apollo Hospitals Enterprise gains as its arm to acquire business from Searchlight Health
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Apollo Hospitals Enterprise is currently trading at Rs. 7270.70, up by 28.70 points or 0.40% from its previous closing of Rs. 7242.00 on the BSE.
The scrip opened at Rs. 7250.50 and has touched a high and low of Rs. 7295.00 and Rs. 7235.35 respectively. So far 2085 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 7545.10 on 08-Nov-2024 and a 52 week low of Rs. 5545.00 on 26-Dec-2023.
Last one week high and low of the scrip stood at Rs. 7415.80 and Rs. 7120.05 respectively. The current market cap of the company is Rs. 104481.84 crore.
The promoters holding in the company stood at 29.33%, while Institutions and Non-Institutions held 65.55% and 5.12% respectively.
Apollo Hospitals Enterprise’s material subsidiary -- Apollo Healthco (AHL), is all set to acquire the business of operating the software (including the Personal Health Record (PHR) & Health Information Exchange (HIE), Datalake, Clinical Cloud (CIE), L-HUB and the Search tools) and all intellectual property and improvements relating thereto or associated therewith, along with all related assets and liabilities, movable property, employees, contracts, books and ledgers, from Searchlight Health (SHPL), on a 'going concern' and 'slump sale' basis (within the meaning of such term under Section 2(42C) of the Income-tax Act, 1961), for a lump sum consideration of Rs 67,50,00,000 (Business Transfer) with effect from such date, in such manner and on such terms and conditions as specified under the business transfer agreement (BTA) dated December 24, 2024.
The Business Transfer and execution of the BTA has been approved by the respective audit committees, board of directors and the shareholders of AHL and SHPL. The said transaction will be completed on or before February 28, 2025.
Apollo Hospitals Enterprise owns and operates chain of multi-specialty hospitals. It offers the services in the area of cardiology, cardiothoracic, orthopedics and joint replacement, spine surgery, oncology, etc.
