Aster DM Healthcare block deal: Stock plunges over 7% as 9.8% equity changes hands

Aster DM Healthcare block deal, Aster DM Healthcare share price NSE BSE: Aster DM Healthcare shares plunged over 7 per cent in the early deals on Wednesday, March 27, as 4.9 crore shares, representing around 9.8 per cent equity, in the company changed hands in the healthcare major in a block deal. Private equity player Olympus Capital Asia is the likely seller.
 
As per a Reuters report, Olympus Capital, which owns about 19 per cent of the hospital chain, was considering a share sale at Rs 400–Rs 437.20 per share. The low end of the range symbolises an 8.5 per cent discount to the stock's last close, while there is no discount at the upper range of the price band.
 
Earlier, the news agency reported in May that investors in the company are planning to offload 30 per cent equity in the company's India business for nearly $300 million, with Olympus Capital pegged to be one of the investors considering a stake sale.
 
Kotak Securities acted as the sole bookrunner or broker for the stake sale.

Zee Business Managing Editor Anil Singhvi maintained that the stock offers an opportunity to buy from a trading perspective.

Aster DM's Q3FY24 results

The company in the December quarter of the ongoing fiscal year posted its first increase in quarterly profit since the first quarter of fiscal 2023 on the back of strong performance at the company's domestic hospitals segment, noted the Reuters report. In the review period, the company's consolidated net profit grew nearly 29 per cent to Rs 179 crore.

Aster DM Healthcare is a healthcare service provider. The company operates in various segments of the healthcare industry, which include hospitals, clinics, and retail pharmacies.