Aster DM Healthcare sets IPO price band at Rs 180-190 per share

New Delhi: Aster DM Healthcare, running hospitals in India and the Middle East, today fixed a price band of Rs 180-190 per equity share for its initial share- sale, that is expected to garner Rs 980 crore.

The initial public offer (IPO) will open on February 12 and close on February 18, Aster said in a statement.

The IPO comprises a fresh issue of equity shares worth up to Rs 725 crore and an offer for sale of up to 1,34,28,251 scrips by the company's promoter Union Investments.

Proceeds of the issue will be used towards repayment of debt, purchase of medical equipment, and for other general corporate purposes.

The firm said it will be launching the IPO "with a price band of Rs 180-190 per equity share of face value of Rs 10 each of the company".

At the upper end of the price band, the public issue is expected to fetch Rs 980.13 crore.

Kotak Mahindra Capital Company, Axis Capital and Goldman Sachs (India) Securities, ICICI Securities, JM Financial and Yes Securities will manage the company's public issue. The equity shares of the company are proposed to be listed on BSE and 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.

As of September 2017, the company had 17,408 employees including 1,417 full-time doctors.