Aster DM Healthcare’s shares see Rs 1,607 crore block deal

21 Jun 2024 , 07:03 PM

On Friday, June 21, 4.7 Crore shares, or 9.3% of Aster DM Healthcare’s equity, traded at ₹345 a share, representing ₹1,607 Crore.

On Thursday, June 21, it was announced that private equity fund Olympus Capital Asia had started a block trade in the healthcare services company.

According to sources, the block’s base size was 5.05% of total equity, with an option to increase it up to 10.1%. The block trade is worth ₹835 Crore and could go to ₹1,670 Crore if fully expanded.

The block deal has a floor price of ₹331 per share, which is 7.1% lower than Thursday’s closing price, according to sources.

According to data on the Bombay Stock Exchange website, Olympus Capital Asia Investments owned 10.1% of Aster DM Healthcare at the end of the March quarter.

In April this year, Aster DM Healthcare Ltd approved a ₹118 special dividend per share. This dividend is based on the profits from the sale of the GCC business and the redemption of redeemable preference shares given to the firm by Affinity Holdings Pvt Ltd, a fully owned major subsidiary of Aster DM Healthcare.

Aster DM Healthcare Limited is a prominent private healthcare service provider with operations in several GCC states, as well as an emerging presence in Indian healthcare.

At around 10.51 AM, Aster DM Healthcare was trading 1.38% higher at ₹361.15, against the previous close of ₹356.25 on NSE. The counter touched an intraday high and low of ₹368.75, and ₹341, respectively.

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