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Aster DM eyes fresh funding to buy rest of the stake in arm
Mint Mumbai
|November 28, 2024
Listed hospital chain Aster DM Healthcare Ltd is planning to raise fresh capital from select investors as it moves to acquire the remaining ownership in its wholly owned subsidiary, Aster Aadhar Hospital (Prerana Hospital Ltd), in Maharashtra.
The healthcare conglomerate has signed an agreement to acquire the remaining 13% stake in Aster Aadhar Hospital, which will take its holding to 100%, the company said in a statement on Wednesday.
The transaction will likely be completed in two tranches by 31 December 2025, according to the statement. The acquisition cost "will be determined based on an independent valuation report, in accordance with applicable laws", it said.
The move comes as Aster DM seeks 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, according to its regulatory filing on Tuesday.
Dit verhaal komt uit de November 28, 2024-editie van Mint Mumbai.
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