 "Apollo Hospitals to restructure pharmacy retail business")
Apollo Hospitals Enterprise Ltd (AHEL) is looking at restructuring its retail pharmacy business in order to bring down the foreign holding in retail below 51 per cent. The move is expected to help the company get FIPB aaproval for its pending Rs 750 crore rights issue.
The decision comes as the Foreign Investment Promotion Board (FIPB) has been holding back its approval for the hospital chain to raise Rs 750 crore from foreign investors. The FIPB had passed on AHEL's proposal to raise Rs 750 crore through rights issue to the Cabinet Committee on Economic Affairs (CCEA) for its consideration in
