Aster DM Healthcare's Equity Worth ₹2,070 Crore Changes Hands in Block Deal

27 Mar 2024 , 11:39 AM

On Wednesday, March 27, a significant portion of Aster DM Healthcare’s equity, amounting to 10.1% or 5.05 Crore shares worth ₹2,070 Crore, was transacted. The specific buyers and sellers involved in the block deal have not been disclosed.

CNBC-TV18 sources reported on Tuesday, March 26, that Olympus Capital Asia Investments (OCAI), a private equity firm, was anticipated to sell around 9.8% of its equity in Aster DM Healthcare through a block deal.

The estimated value of the offering was ₹1,952.8 Crore, with an offer price range set between ₹400 and ₹432 per share. As of the end of the December quarter, Olympus Capital Asia Investments held an 18.96% stake in Aster DM Healthcare.

Aster DM Healthcare witnessed a notable increase in net profit during the December quarter, reporting a 28.6% surge to ₹179.2 Crore compared to the previous year’s corresponding period, which recorded a net profit of ₹139.4 Crore.

Revenue from operations also saw a substantial rise, climbing by 16.2% to ₹3,710.6 Crore from ₹3,192.1 Crore in the same period of the preceding fiscal year.

At the operational level, EBITDA experienced a growth of 25.7%, reaching ₹564 Crore in the third quarter of the fiscal year, up from ₹448.6 Crore in the corresponding period of the previous fiscal year.

The EBITDA margin for the reporting quarter was 15.2%, compared to 14.1% in the year-ago period. EBITDA represents earnings before interest, tax, depreciation, and amortization.

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