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Aster DM Healthcare IPO subscribed 45 percent on day 2

Aster DM Healthcare IPO subscribed 45 percent on day 2

New Delhi: The initial public offer of Aster DM Healthcare has subscribed 45 percent on the second day of its public issue, according to merchant bankers.

The IPO, which aims to raise Rs 980 crore, received bids for over 1.62 crore shares against the total issue size of over 3.74 crore scrips.

The portion reserved for institutional investors was subscribed 51 percent, non-institutional category 24 percent and retail investors witnessed a subscription of 50 percent, the bankers said.

The company had raised Rs 294 crore from anchor investors on Friday.

Read also: Aster DM Healthcare raises Rs 294 crore from anchor investors

The initial public offer (IPO) comprises the 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.

The price band for the offer, which would be open till February 15, is kept at Rs 180-190 per share.
Proceeds from the issue would be used towards repayment of debt, purchase of medical equipment, and for other general corporate purposes.
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.
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.

Source: PTI
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