Business description – Aster DM Healthcare is one of the largest private healthcare service providers which operate in multiple GCC states based on numbers of hospitals and clinics.
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The company currently operates in all of the GCC states, which comprises the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, in Jordan, in India and the Philippines. The company’s GCC operations are headquartered in Dubai, United Arab Emirates and Indian operations are headquartered in Kochi, Kerala.
The company operates in multiple segments of the healthcare industry, including hospitals, clinics and retail pharmacies and provides healthcare services through various brands “Aster”, “Medcare” and “Access”.
The company commenced operations in 1987 as a single doctor clinic in Dubai established by founder, Dr. Azad Moopen. The company was incorporated in 2008 in a reorganisation to facilitate the growth of its operations, subsequent to which operations in the GCC states and India were consolidated.
The company had 149 operating facilities, including 10 hospitals with a total of 1,419 installed beds, as of 31 March 2013 and has expanded to 316 operating facilities, including 18 hospitals with a total of 4,651 installed beds, as of 31 March 2017.
Further, it entered into an operation and management services agreement with Rashtreeya Sikshana Samithi Trust in Bengaluru effective 25 February 2017 to provide operation and management services at a hospital in J P Nagar, Bengaluru. In August 2014, it launched Aster Medcity in Kochi, Kerala, a multi-speciality hospital with a 670 bed capacity, to be positioned as a destination for medical value travel.
Promoters of Aster DM Healthcare – Dr Azad Moopen and Union Investments Private Limited
|Aster DM Healthcare IPO details|
|Subscription Dates||12 – 15 February 2018|
|Price Band||INR180 – 190 per share|
|Fresh issue||INR725 crore|
|Offer For Sale||13,428,251 shares (INR241.17 – 255.14 crore)|
|Total IPO size||INR966.17 – 980.14 crore|
|Minimum bid (lot size)||78 shares|
|Face Value||INR10 per share|
|Listing On||NSE, BSE|
Use of funds
- Repayment and/or pre-payment of debt
- Purchase of medical equipment
- General corporate purposes
|Aster DM Healthcare’s financial performance (in INR crore)|
|Profit after tax||91.8||177.8||272.1||8.2||266.7||-82.7|
|Net margin (%)||4.7||6.2||7.0||0.2||4.5||-2.6|
* As per Ind-AS accounting standards
Aster DM Healthcare Contact Details
Aster DM Healthcare Limited
IX/475L, Aster Medcity, Kuttisahib Road
near Kothad Bridge, South Chittoor P.O.
Cheranalloor, Kochi – 682 027
Phone: +91 484 6699 228
Fax: +91 484 6699 862
Registrar of Aster DM Healthcare
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Valuation of Aster DM Healthcare (Based on latest FY)
Earnings Per Share (EPS): INR4.28
Price/Earnings (P/E) ratio: 42.05 – 44.39
Return on Net Worth (RONW): 10.59%
Net Asset Value (NAV): INR40.5 per share
Aster DM Healthcare IPO Subscription Details
|Category||Shares offered||Subscription (no.|
of times, at 5 PM)
|Day 1||Day 2||Day 3|
Aster DM Healthcare IPO Allotment Status
Aster DM Healthcare IPO allotment status is now available on Link Intime’s website.
Click on this linkto get allotment status.
Listing Performance of Aster DM Healthcare
IPO Opening Date: 12 February 2018
IPO Closing Date: 15 February 2018
Finalisation of Basis of Allotment: 22 February 2018
Initiation of refunds: 22 February 2018
Transfer of shares to demat accounts: 23 February 2018
Listing Date: 26 February 2018
Listing Price on NSE: INR183 per share (down 3.68% from IPO price)
Closing Price on NSE: INR181.55 per share (down 4.44% from IPO price)