Aster DM Healthcare IPO To Open On February 12

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Aster DM Healthcare Ltd running hospitals in India and West Asia will open its IPO issue on February 12 and close on February 18.

Aster DM Healthcare IPO To Open On February 12

The Rs. 980 crore issue by the healthcare major comprises both fresh issue of shares of Rs725 crore and an offer for sale (OFS) of 13.42 million shares by the company's promoter Union Investments Pvt. Ltd. The price band for the issue is fixed at Rs.180-190 per equity share. At the upper end of the price band, the share sale will provide promoters about Rs 255 crore. The face value will be Rs 10 per equity share.

The proceeds from the fresh issue will be used towards paring the company's debt, buy medical equipment and for meeting other corporate expenses.

Kotak Mahindra Capital Company, Axis Capital and Goldman Sachs (India) Securities, ICICI Securities, JM Financial and Yes Securities are the book running lead managers of the IPO.
The shares of Aster DM are proposed to be listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) of India.

Incorporated in the year 1987 by Dr. Azad Moopen, the healthcare company as of 30 September includes 9 hospitals, 90 clinics and 206 pharmacies in the GCC states; 7 clinics and 10 multi-specialty hospitals and one clinic in Philippines.

In India, Aster's headquarters is in Kochi, Kerala. While it operates hospitals out of Bengaluru, Guntur, Hyderabad, Kerala and Vijayawada.

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Read more about: aster dm healthcare limited, ipo, ofs
Story first published: Tuesday, February 6, 2018, 13:09 [IST]
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