Aster DM Healthcare Ltd increases stake in Malabar Institute of Medical Sciences Ltd

Aster DM Healthcare Limited ('the Company') has acquired additional 1.87% stake in Malabar Institute of Medical Sciences Ltd (MIMS), a material subsidiary of the Company from several minority shareholders as on March 27, 2023. Consequent to the said acquisition, shareholding of the Company in MIMS has increased from 74.14% to 76.01%. MIMS is a material a subsidiary of Aster DM Healthcare Limited and operates hospitals in Kerala.

Considering the current performance of MIMS and revenue and profitability trend, its value accretive for the Company to acquire the shares at valuation of Rs. 100 per share from minority shareholders. Further this gives an opportunity to shareholders who are seeking for an exit from the subsidiary company.

Shares of Aster DM Healthcare Limited was last trading in BSE at Rs. 237.25 as compared to the previous close of Rs. 236.85. The total number of shares traded during the day was 15771 in over 493 trades.

The stock hit an intraday high of Rs. 239.40 and intraday low of 232.00. The net turnover during the day was Rs. 3695027.00.

Source : Equity Bulls

Keywords

AsterDMHealthcare INE914M01019 HealthcareServices StakeIncrease MalabarInstituteofMedicalSciences