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Aster DM Healthcare arm acquires 49% stake in Sanghamitra Hospitals; Stock gains

Post completion of the acquisition, SHPL will become a wholly-owned subsidiary company of Dr. Ramesh Cardiac and Multispeciality Hospital.

November 15, 2021 12:51 IST | India Infoline News Service
Aster DM Healthcare
Aster DM Healthcare Limited subsidiary Dr. Ramesh Cardiac and Multispeciality Hospital Private Limited (DRCMH) has acquired a 49% stake in Sanghamitra Hospitals Private Limited (SHPL) at a consideration of Rs59.40cr.

Ata round 12.54 pm, Aster DM Healthcare Ltd was trading at Rs209.50 per piece up by Rs1.8 or 0.87% from its previous closing of Rs207.70 per piece on the BSE.

“DRCMH, a subsidiary of the company, has entered into Share Purchase Agreements on November 12, 2021, with the Key Promoters and Minority Shareholders (Sellers) of SHPL, a step-down subsidiary company, for acquiring additional equity shares representing 49% of the paid-up share capital of SHPL.

The above acquisition of shares shall be carried out in six instalments and is expected to be completed on or before March 31, 2024,” company said in a filing.

Post completion of acquisition, SHPL will become wholly owned subsidiary company of DRCMH. Prior to this acquisition, DRCMH was holding 51% shareholding in SHPL.

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