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Aster DM eyeing fresh funding as it moves to buy remaining stake in arm

VCCircle

VCCircle · 9m ago

Aster DM eyeing fresh funding as it moves to buy remaining stake in arm

Listed hospital chain Aster DM Healthcare is planning to raise fresh capital from select investors as it moves to acquire the remaining 13% stake in subsidiary Aster Aadhar Hospital. The acquisition will bring Aster DM Healthcare's ownership to 100%. The company is also seeking board approval to issue additional equity shares via preferential allotment, allowing specific investors to purchase up to 5% of the company's total equity post-issuance. If approved, the value of the 5% shares would be around $140m. Aster DM Healthcare operates 19 hospitals with nearly 5,000 beds across India.

Related News

Aster DM block deal: 9.3% stake sold for Rs 1,607 crore; Olympus likely seller

Money Control

Money Control · 1y ago

Aster DM block deal: 9.3% stake sold for Rs 1,607 crore; Olympus likely seller

On June 20th, Aster DM Healthcare's share price increased by 1.1% to reach Rs 355.9 at close. It has seen a decline of nearly 19% since March 27, which was when Olympus last sold its stake in the company. On June 21st, around 9.3% of Aster DM Healthcare's equity was sold for Rs 1,607 crore in block deals. Olympus, a private equity firm, is likely to sell part of its remaining stake in the company. This move would mark Olympus' complete exit from Aster DM Healthcare.

Grapevine: Narayana Health, Aster DM Healthcare, Blackstone, and IvyCap-backed Miko in news

VCCircle

VCCircle · 9m ago

Grapevine: Narayana Health, Aster DM Healthcare, Blackstone, and IvyCap-backed Miko in news

Hospital chains Narayana Health and Aster DM Healthcare are making headlines as they engage in talks regarding an overseas acquisition and a merger with a local peer, respectively. Additionally, robotics startup Miko is expected to secure more funding in its ongoing Series C round.

Aster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race? | Mint

Livemint

Livemint · 11m ago

Aster DM Healthcare quashes merger rumours: Is Blackstone-backed Care Hospitals still in the race? | Mint

Aster DM Healthcare has denied rumors of a potential merger with Care Hospitals, dismissing speculation that emerged from a news report. In a filing response, Aster DM Healthcare stated that while it explores strategic opportunities for growth, no material events requiring disclosure have occurred. The company assured shareholders that any significant developments will be communicated through the appropriate channels. Aster DM Healthcare's stock price was not affected by the media report. The company remains committed to adhering to regulatory obligations and will disclose any required information accordingly.

Aster DM, Blackstone-backed Quality Care announce merger in $5 bn deal

Livemint

Livemint · 9m ago

Aster DM, Blackstone-backed Quality Care announce merger in $5 bn deal

Bengaluru-based Aster DM Healthcare announced a merger with Blackstone-backed Quality Care India Limited (QCIL), creating a Top 3 player in India's hospital industry. The merger will value the combined entity at $5.08 billion and give Aster shareholders a 57.3% stake in the merged company. The merger is expected to be completed in 12 months, pending regulatory approvals. The combined entity will have 10,150 beds and plans to add 3,180 more in the next two years. Blackstone will be the largest shareholder with a 30.7% stake.

Aster DM Healthcare plans to double bed capacity to 10,000 in three years: CEO

Livemint

Livemint · 1y ago

Aster DM Healthcare plans to double bed capacity to 10,000 in three years: CEO

Bengaluru-based healthcare provider Aster DM Healthcare plans to increase its bed capacity to over 10,000 in the next three years through acquisitions and organic growth. The company intends to spend at least ₹1,000 crore ($136m) to acquire 2,000-4,000 beds and invest an additional ₹1,000 crore to add 1,700 beds organically. Aster DM aims to become one of India's top three healthcare providers and sees Uttar Pradesh as a potential market for expansion.

Live: Will Nifty End The Week Above 23,600?| Aster DM Block Deal Likely Today| Opening Bell

Money Control

Money Control · 1y ago

Live: Will Nifty End The Week Above 23,600?| Aster DM Block Deal Likely Today| Opening Bell

The Nifty 50 ended the week on a positive note, closing at a new record high of 23,567 points. It is expected to remain range-bound with resistance at 23,600-23,650 points. If it breaks this range, a strong uptrend may follow, with support at 23,400 points. Accenture's revenue growth guidance and a possible block deal in Aster DM will be closely watched. Additionally, Stanley Lifestyle's Rs 537 crore IPO opens for subscription today.

Gautam Adani's AMG Media Networks to acquire remaining stakes in Quintillion Business Media

IndianStartupNews

IndianStartupNews · 2y ago

Gautam Adani's AMG Media Networks to acquire remaining stakes in Quintillion Business Media

Gautam Adani-led Adani Enterprises said that its unit AMG Media Networks board has approved the signing of a memorandum of undertaking to buy the remaining 51% stake in Quintillion Business Media

Wipro inks $66 mn deal to acquire US insurtech firm Aggne

VCCircle

VCCircle · 1y ago

Wipro inks $66 mn deal to acquire US insurtech firm Aggne

Indian IT services major Wipro is set to acquire a majority stake in insurtech firm Aggne Global for $66m in an all-cash deal. Wipro will initially purchase a 60% stake in the Florida-based company and its India-based affiliate, with the option to buy the remaining stake in the future. Aggne, founded in 2019, provides IT, consulting, and managed services to the property and casualty insurance industry. The acquisition is expected to bolster Wipro's position in the insurance market and enhance its range of offerings.

BYJU'S settles dispute with Davidson over ₹1,400-cr debt

Money Control

Money Control · 1y ago

BYJU'S settles dispute with Davidson over ₹1,400-cr debt

Ranjan Pai, chairman of Manipal Education and Medical Group, has purchased the debt investment of Davidson Kempner in a deal worth Rs 1,400 crore. This move brings relief to edtech company Byju's, as it resolves a longstanding dispute with the investment management firm. Pai also gains a board seat and the right to nominate two people on the board of Aakash, Byju's subsidiary. Additionally, he plans to buy out part of Aakash's promoter stake and Blackstone's remaining stake, taking his effective shareholding in Aakash to nearly 30%.

Homegrown, foreign PE funds look to nibble up stake in Belgian Waffle Co

VCCircle

VCCircle · 3m ago

Homegrown, foreign PE funds look to nibble up stake in Belgian Waffle Co

Homegrown and foreign private equity funds are eyeing a minority stake in The Belgian Waffle Co, a quick service restaurant chain. Multiple sources have confirmed the interest to VCCircle, with discussions focusing on acquiring a share in the company. This development follows February reports of the company's relaunch, suggesting strategic moves to attract investment and drive expansion. The Belgian Waffle Co is attracting considerable attention from investors interested in the growing QSR sector.

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