Private equity firm Olympus Capital Asia Investments (OCAI) is likely to sell up to 9.8% equity in hospital chain Aster DM Healthcare via a block deal, sources told CNBC-TV18.
The offer size is valued at ₹1,952.8 crore, with an offer price range of ₹400-432 per share, the sources added.
As of the end of the December quarter, Olympus Capital Asia Investments held an 18.96% stake in Aster DM Healthcare.
Aster DM Healthcare reported a 28.6% year-on-year (YoY) jump in net profit at ₹179.2 crore for the third quarter that ended December 31, 2023. In the corresponding quarter last year, Aster DM Healthcare posted a net profit of ₹139.4 crore, the company said in a regulatory filing.
The company's revenue from operations increased 16.2% to ₹3,710.6 crore against ₹3,192.1 crore in the corresponding period of the preceding fiscal. At the operating level, EBITDA rose 25.7% to ₹564 crore in the third quarter of this fiscal over ₹448.6 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 15.2% in the reporting quarter against 14.1% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation.
The company's operational revenue grew 16% year-on-year to ₹3,711 crore against ₹3,192 crore in Q3 of FY23. Operating EBITDA grew 28% YoY to ₹583 crore against ₹456 crore in Q3 of FY23.
Shares of Aster DM Healthcare Ltd ended at ₹438.30, down by ₹0.75, or 0.17%, on the BSE.
(Edited by : Shoma Bhattacharjee)
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