The shares of one of the largest private healthcare service provider gained 4.3 percent, reaching a 52-week high price of ₹495.15 per share after the company acquired a 20% stake in Aasraya Healthcare LLP.
Aster DM Healthcare Ltd. belongs to the mid-cap category of stock, with a market value of ₹24,426 crores. On Wednesday, its shares closed at ₹488.20 per share, up 2.84 percent from the previous close price on the stock exchange.
Aster DM Healthcare Ltd. subsidiary Dr. Ramesh Cardiac and Multispeciality Hospital Private Limited (“DRCMHPL”) acquired a 20.40 % stake in Aasraya Healthcare LLP on February 27, 2024. To provide the healthcare Services including through Hospitals,outreach clinics, camps and tele-medicine centres.
The LLP’s total capital contribution obligation is ₹13 crores. DRCMHPL will contribute Rs. 6.63 crores (51%), and the remaining ₹. 6.37 crores (49%) will come from 13 other partners.
DRCMHPL will contribute an additional ₹. 0.10 Crores (20.40%) to acquire shares in Aasraya Healthcare LLP, resulting in DRCMHPL holding a 51% stake in the LLP.
The transaction is expected to complete on or before 31st October,m 2024 as it is the date of completion of construction of the proposed Healthcare facility. Aasraya Healthcare LLP, formed on September 29, 2022, is a Limited Liability Partnership with a net worth of ₹0.39 crores.
The company’s operational revenue has increased by 16 percent year on year from ₹3,192 crores in Q3FY23 to ₹3,711 crores in Q3FY24, while net profit increased by 31 percent from ₹159 crores to ₹209 crores.
Aster DM Healthcare shares have gained 50 percent in the last six months and 122 percent in a year.
Aster DM Healthcare Limited is one of the largest integrated private healthcare service providers operating in GCC (Gulf Cooperation Council) countries and an emerging player in India.
With an inherent emphasis on clinical excellence, it is one of the few entities in the world with a strong presence across primary, secondary, tertiary, and quaternary healthcare.
The company expanded significantly, going from 10 hospitals and 7 clinics in FY18 to 19 hospitals, 13 clinics, 223 pharmacies, and 224 labs currently. The bed capacity also increased from 3,007 in FY18 to 4,857 now.
In the last quarter, the company received 57% of its revenue from Kerala, 31% from Karnataka and Maharashtra, and 12% from Andhra and Telangana.
Written by Omkar Chitnis
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