Aster DM Healthcare’s IPO in NSE and S&P BSE on February 12

Aster DM Healthcare

Thiruvananthapuram: The Initial Public Offering (IPO) of shares of the hospital chain Aster DM Healthcare will be on sale in the security listings of National Stock Exchange (NSE) and S&P Bombay Stock Exchange (BSE) on February 12. For the initial share sale, Aster DM Healthcare has set its initial price band of per equity share Rs. 180 to Rs. 190, expecting to raise Rs. 980 crore. The IPO, which would commence on February 12, will close on February 18.

According to a statement issued by Aster DM, the IPO will comprise fresh equity shares amounting 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.

As per the mandatory Red Herring Prospectus, Aster DM proposes to utilize the net proceeds from the fresh issue for the re-payment and pre-payment of debts, purchase of medical equipment and general corporate purposes. 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.

Headquartered in Dubai, Aster DM Healthcare Ltd currently has operations in GCC states, India and Philippines. Aster DM Healthcare operates in multiple segments of the healthcare industry including hospitals, clinics and retail pharmacies. The company operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems.

According to Azad Moopen, Chairman of Aster DM, the establishment evolved from a “from a single doctor clinic in Dubai to a network of nearly 323 establishments, spread in 9 countries with over 19,593 staff.”