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Olympus Capital Asia Initiates 10.1% Stake Sale in Aster DM Healthcare

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Synopsis:

Olympus Capital Asia starts a block trade in Aster DM Healthcare, selling up to 10.1% equity for ₹1,670 crore at ₹331/share. The transaction is valued at ₹835 crore for the base size and could potentially reach ₹1,670 crore if fully exercised.

Aster DM Healthcare News Today

Private equity firm Olympus Capital Asia announced on June 20th the initiation of a block trade in Aster DM Healthcare. The block trade involves selling a base size of 5.05% of Aster DM Healthcare’s total equity, with an option to upsize the trade to 10.1%.

Financial Details

The transaction is valued at ₹835 crore for the base size and could potentially reach ₹1,670 crore if the upsize option is fully exercised. The floor price for the shares in this block trade is set at ₹331 per share, reflecting a 7.1% discount from the last closing price.

Explore:Aster Dm Healthcare Ltd. Share Price

Recent Financial Activities

In April 2024, Aster DM Healthcare Ltd. approved a special dividend of ₹118 per share. This dividend distribution is attributed to the proceeds from the sale of the GCC business and the redemption of redeemable preference shares issued by its subsidiary Affinity Holdings Pvt Ltd.

Strategic Divestments and Business Separation

Aster DM Healthcare has been actively restructuring its business to unlock value. In November 2023, the company announced plans to sell the equity shares held by Affinity Holdings, in Aster DM Healthcare FZC to Alpha GCC Holdings Ltd.

This strategic move was part of the company’s broader strategy to separate its India and GCC businesses, allowing them to operate as standalone entities and unlocking long-term value.

Investment and Acquisition

As part of this business separation, a UAE-based sovereign-owned private equity consortium led by Fajr Capital proposed to acquire a 65% stake in Aster DM Healthcare’s GCC business. This agreement was formalised in a definitive agreement and received approval from Aster DM Healthcare’s shareholders in January 2024.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

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