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While the lower-than-expected valuations assigned to Apollo HealthCo came as a negative surprise, analysts remain hopeful of reduced cash burn and rapid expansion for the Apollo Hospitals' arm.
Shares of Apollo Hospitals Enterprise fell over 8 percent in intra-day trading today after the firm announced that it will raise ₹2,475 crore through private equity firm Advent International for its unit Apollo HealthCo. Investors expressed concern about the valuation assigned to Apollo 24/7.
Apollo 24/7 is part of Apollo HealthCo, a subsidiary of Apollo Hospitals. HealthCo also houses the pharmacy distribution business and a 25.5% interest in Apollo Pharmacy. It accounts for about 40% of Apollo Hospitals revenue.
Starting January, millions of salaried employees across India make their investment and expense declarations to save on taxes.
Apollo Hospitals Enterprise, India's largest private healthcare group, expects its digital healthcare platform Apollo 24/7 to turn around in 6-8 quarters, led by healthy growth of gross merchandise value (GMV) or the total value of sales over a certain period of time.