Malabar Institute of Medical Sciences (MIMS), a material subsidiary
of Aster DM Healthcare has entered into an agreement to acquire 99.99% stake in Cantown Infra Developers LLP on 14 January 2023. The cost of acquisition is Rs 15.22 crore.
Cantown Infra Developers LLP owns land next to the Boundary of Aster MIMS Kannur, the entity has no turnover in FY21-22 except for rent received from letting the land out for car parking facility to Aster MIMS Kannur.
Aster MIMS Kannur has reached its maximum possible capacity. Considering the huge potential and possibilities, it is proposed to expand the capacity of Aster MIMS Kannur for which additional land is required therefore it is proposed to acquire Cantown Infra Developers LLP.
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