Aster DM Healthcare advanced 2.05% to Rs 484.45 after its subsidiary, Dr. Ramesh Cardiac and Multispecialty Hospital (DRCMHPL) acquired 20.40% stake in Aasraya Healthcare LLP on 27 February 2024.
DRCMHPLs current contribution is Rs 0.10 crore for 20.40% and it shall be contributing further capital in Aasraya Healthcare LLP and pursuant to said contribution DRCMHPL shall be holding 51% stake in LLP.The objective of acquisition is to provide the healthcare services including through hospitals, outreach clinics, camps and tele-medicine centres.
The transaction is expected to complete on or before 31 October, 2024 as it is the date of completion of construction of the proposed healthcare facility.
Aster DM Healthcare is primarily involved in the operations of healthcare facilities, retail pharmacies, and providing consultancy in areas relating to healthcare.
The company's consolidated net profit increased 28.56% to Rs 179.21 crore on 16.24% increase in net sales to Rs 3,710.61 crore in Q3 FY24 over Q3 FY23.
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