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Feb 10, 2018 05:17 PM IST | Source: Moneycontrol.com

Aster DM Healthcare raises Rs 294 cr from anchor investors

Anchor investors are SBI MF, Sundaram MF, Karst Peak Asia Master Fund, DB International Asia, Societe Generale, Caisse De Depot Et Placement Du Quebec - First State Investments International and First State Indian Subcontinent Fund.

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Healthcare services provider Aster DM Healthcare has garnered Rs 294 crore from anchor investors on Friday.

Under anchor investors portion in the public issue, 1,54,75,843 equity shares have been subscribed by 7 anchor investors at Rs 190 per share, as per BSE filing.

Anchor investors are SBI MF, Sundaram MF, Karst Peak Asia Master Fund, DB International Asia, Societe Generale, Caisse De Depot Et Placement Du Quebec - First State Investments International and First State Indian Subcontinent Fund.

The company will open its IPO for subscription on Monday, with a price band of Rs 180-190 per share.

The company aims to raise up to Rs 980 per share at higher end of price band.

The issue, which will close on February 15, consists of a fresh issue of up to Rs 725 crore and an offer for sale of up to 1,34,28,251 equity shares by the promoter, Union Investments Private Limited.

The fresh issue proceeds would be utilised for repayment of debt; purchase of medical equipment; and general corporate purposes.

Aster DM is one of the largest private healthcare service providers which operate in multiple GCC states based on number of hospitals and clinics, according to the Frost & Sullivan report. It currently operates in all of the GCC states, which comprise the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, in Jordan, in India and the Philippines.

Equity shares are proposed to be listed on BSE and National Stock Exchange of India.

Kotak Mahindra Capital Company, Axis Capital and Goldman Sachs (India) Securities are the global co-ordinators and book running lead managers to the offer. ICICI Securities, JM Financial & YES Securities (India) are the book running lead managers.
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