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Aster DM Healthcare climbs after concluding separation of India, GCC businesses
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Aster DM Healthcare is currently trading at Rs. 454.80, up by 36.65 points or 8.76% from its previous closing of Rs. 418.15 on the BSE.
The scrip opened at Rs. 423.00 and has touched a high and low of Rs. 467.55 and Rs. 422.50 respectively. So far 275927 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 495.15 on 28-Feb-2024 and a 52 week low of Rs. 237.00 on 05-Apr-2023.
Last one week high and low of the scrip stood at Rs. 467.55 and Rs. 402.85 respectively. The current market cap of the company is Rs. 22717.85 crore.
The promoters holding in the company stood at 41.88%, while Institutions and Non-Institutions held 48.15% and 9.97% respectively.
Aster DM Healthcare has completed the separation of its India and GCC businesses. Under the separation plan, a consortium of investors led by Fajr Capital, a sovereign-backed private equity firm, has acquired a 65% stake in Aster GCC, with the Moopen family retaining a 35% stake alongside management and operational rights. In the Indian operations, the Moopen family continues to hold the 41.88% stake. The transaction has now concluded and pursuant to which Affinity Holdings (a wholly subsidiary of the Company) has received a cash consideration of $907.6 million.
In November 2023, the Company obtained board approvals to separate its GCC and India businesses to establish two distinct regional healthcare champions that will benefit from the strategic and financial flexibility to meet the priorities of patients and focus on the growing demand in their respective markets. The separation plan was also approved by the Company’s shareholders in January 2024. The transaction was subject to customary regulatory approvals, contractual approvals and closing conditions, all of which have been satisfied and concluded.
Aster DM Healthcare operates as a healthcare company in the Middle East, India, and the Far East. It operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems.
