Aster DM Healthcare Block Deal: 10.1% equity worth ₹2,070 crore changes hands

As much as 10.1% equity, or 5.05 crore shares of Aster DM Healthcare, worth ₹2,070 crore of Aster DM Healthcare changed hands on Wednesday, March 27.

The official buyers and sellers in the block deal are not yet known.

On Tuesday, March 26, sources told CNBC-TV18 that the private equity firm Olympus Capital Asia Investments (OCAI) was likely to sell up to 9.8% equity in hospital chain Aster DM Healthcare via a block deal.

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.

In the December quarter, Aster DM Healthcare reported a 28.6% jump in net profit ₹179.2 crore from the previous year. In the corresponding quarter last year, it had reported a net profit of ₹139.4 crore.

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.

Aster DM shares were down 5.4% at ₹413.5 apiece at 9.17 am on Wednesday, March 27.