In November 2023, the Company obtained board approvals to separate its GCC and India businesses to establish two distinct regional healthcare champions that will benefit from the strategic and financial flexibility to meet the priorities of patients and focus on the growing demand in their respective markets. The separation plan was also approved by the Company's shareholders in January 2024. The transaction was subject to customary regulatory approvals, contractual approvals and closing conditions, all of which have been satisfied and concluded.
The Company plans to add 1700 beds by FY27 through the organic route and will further look for expansion through the inorganic route as well to be among the top 3 hospital chains in India. The expansion plan will encompass a mix of brownfield and greenfield projects, encompassing the upcoming Aster Capital in Trivandrum, and Aster MIMS Kasargod and adding bed capacity to the existing hospitals. The Company will also be looking at potential markets such as Maharashtra and Uttar Pradesh. The capital allocation for this expansion is in the range of 1000 crore.
The Company as communicated earlier intends to consider distributing 70-80 percent of the transaction proceeds as dividends to its shareholders in the range of Rs 110 to Rs 120 per share and anticipates distributing the dividend, post obtaining required approvals.
Powered by Capital Market - Live News