Aster DM Healthcare IPO opens today. Details here

Aster DM Healthcare IPO opens today. Details here

Aster DM Healthcare has raised Rs 294 crore from anchor investors ahead of its initial public offer opening on Monday.

The company had filed the prospectus for the IPO in India in June 2017.

The price band for the offer is set at Rs 180-190 per share. The company hopes to sell 51.5 million shares and raise $152 million (AED559.8m) in a three day issue that ends on February 15.

The floor price of the issue is 18 times the face value of the equity shares and the cap price is 19 times the face value. Proceeds of the issue will be used towards repayment of debt, purchase of medical equipment, and for other general corporate purposes.

Securities are the global co-ordinators and book running lead managers to the offer and ICICI Securities, JM Financial and YES Securities (India) are the book running lead managers to the offer.

The issue got 94,46,034 subscriptions compared with the issue size of 3,73,70,415 shares, according to data available with the NSE.

Aster operates in India, the Philippines, Jordan and all the GCC (Gulf Cooperation Council) states comprising the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain. The company operates in multiple segments of the healthcare services industry, including hospitals, clinics and retail pharmacies. Aster's hospitals in India are located in Kochi, Kolhapur, Kozhikode, Kottakkal, Bengaluru, Vijayawada, Guntur, Wayanad and Hyderabad and are generally operated under the Aster, MIMS, Ramesh and Prime brands.

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