Home World Business Aster DM Healthcare IPO subscribed 43% on Day Two

Aster DM Healthcare IPO subscribed 43% on Day Two

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The issue opened for subscription on Monday, 12 February and closes tomorrow, 15 February 2018

Receives bids for 16.1 million shares

The (IPO) of Aster DM Healthcare received bids for 16.1 million shares, as against 37.3 million shares on offer, data on the National Stock Exchange of India (NSE) website showed as at 17:00 IST today, 14 February 2018.

The issue opened for subscription on Monday, 12 February and closes tomorrow, 15 February 2018. The stock market was shut yesterday, 13 February 2018 for a holiday. The price band for the issue has been fixed at Rs 180 to Rs 190 per share.

The offer comprises IPO of Rs 725 crore. The offer also comprises offer for sale (OFS) of 1.34 crore shares.

The objects of the issue are to repay certain borrowings of Rs 564.16 crore and to purchase medical equipment worth Rs 110.31 crore. The balance will be for other corporate purposes apart from the benefits of listing the equity shares on the and the and to enhance visibility and brand image and provide liquidity to the existing shareholders.

Ahead of the opening of the IPO, the board of directors of the company, at its meeting held on 9 February 2018, finalized allocation of 1.54 crore equity shares to a slew of anchor investors at Rs 190 per share.

On a consolidated basis, Aster DM Healthcare reported a net loss of Rs 82.71 crore on net sales of Rs 3122.59 crore for the six months ended September 2017.

Aster DM Healthcare is a Kochi-based (Kerala) healthcare service provider, with operations in (GCC) states of the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, India and Philippines.

First Published: Wed, February 14 2018. 19:16 IST

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