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Last Updated : Feb 05, 2018 03:21 PM IST | Source: Moneycontrol.com

Aster DM Healthcare IPO to open on February 12, price band at Rs 180-190 per share

The IPO 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.

Private healthcare service provider Aster DM Healthcare will be opening its initial public offering for subscription on February 12, with a price band of Rs 180-190 per share.

The IPO 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 issue will close on February 15.

The company is expected to raise around Rs 967-980 crore through the issue.

The fresh issue proceeds will be utilised towards repayment and/or pre-payment of debt; purchase of medical equipment; and general corporate purposes.

Aster DM Healthcare 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, and an emerging healthcare player in India.

Aster currently operates in all of the GCC states, which comprise the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, in Jordan (which is classified as a GCC state as part of the Company’s GCC operations), in India and the Philippines.

Aster’s hospitals in India are located in Kochi, Kolhapur, Kozhikode, Kottakkal, Bengaluru, Vijayawada, Guntur, Wayanad and Hyderabad and are generally operated under the Aster, MIMS, Ramesh or Prime brands.

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

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.
First Published on Feb 5, 2018 02:20 pm
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