Aster DM Healthcare Ltd to acquire Sr Sainatha Multispeciality Hospitals Pvt Ltd

Aster DM Healthcare Limited ('the Company') has entered into share purchase agreement with promoters and their relatives of Sri Sainatha Multispeciality Hospitals Private Limited (Sri Sainatha) on October 19, 2022 to acquire remaining 22.69% class B equity shares in Sri Sainatha. Consequent to the said acquisition Sri Sainatha shall become wholly owned subsidiary of the Company.

Sri Sainatha is a subsidiary where the Company is currently holding 77.31% Class B equity shares. None of the promoters / promoter group / group companies have interest in this transaction.

The Company has entered into share purchase agreement with promoters and their relatives to acquire 22.69% class B equity shares.

Pursuant to the said acquisition the shareholding of the Company in target entity shall increase from 77.31% to 100%.

The target company is operating hospital at Hyderabad. The turnover of the Company for FY 2021-22 is INR FY 2021-22- 7,57,824.29 Thousands.

Shares of Aster DM Healthcare Limited was last trading in BSE at Rs. 249.85 as compared to the previous close of Rs. 246.90. The total number of shares traded during the day was 44381 in over 1825 trades.

The stock hit an intraday high of Rs. 253.80 and intraday low of 244.60. The net turnover during the day was Rs. 11079798.00.

Source : Equity Bulls

Keywords

AsterDMHealthcare INE914M01019 Acquisition StakeIncrease SriSainathaMultispecialityHospitals