Aster DM zooms 9.5% on reports of potential sale of India business

Shares of Aster DM have also soared about 40 percent year-to-date, taking the hospital chain operator’s valuation to about $1.9 billion

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Hospital chain operator Aster DM Healthcare’s stock soared 9.5 percent in early trade on October 12, a day after reports of a potential sale of its India business emerged.

At 9.45 am, Aster DM was trading at Rs 339.30, up 5 percent on NSE.

Private equity firm BPEA EQT and Ontario Teachers’ Pension Plan Board have shown interest in acquiring Aster DM Healthcare Ltd’s assets including its India business, the reports said. Other potential bidders for Aster’s India business included Blackstone Inc and KKR & Co.

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The deal value for Aster’s entire business could be more than $2.5 billion, with its Gulf assets fetching around $1 billion and the Indian business being valued at $1.5 billion, a Bloomberg report sources as saying.

Bloomberg reported in March that Dubai-based private equity firm Fajr Capital was a part of the consortium looking to buy a majority stake in Aster’s Gulf business.

Founded in 1987, Aster DM operates hospitals in India and the Gulf region. It has 33 hospitals and hundreds of clinics and pharmacies across the regions served.

Also Read | Aster’s India unit draws suitors valuing business at $1.5 billion

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