 "Aster DM Healthcare sets IPO price band at Rs 180-190 per equity share")
Aster DM Healthcare, running hospitals in India and West Asia, on Monday fixed a price band of Rs 180–190 per equity share for its initial share-sale, expected to garner Rs 9.8 billion.
The initial public offer (IPO) will open on February 12 and close on February 18, Aster said. The IPO comprises fresh issue of equity shares worth up to Rs 7.25 billion and an offer for sale of up to 13,428,251 scrips by the company’s promoter Union Investments.
Proceeds of the issue will be used towards repayment of debt, purchase of medical equipment, and for other general corporate purposes.
The firm said it will be launching the IPO “with a price band of Rs 180–190 per equity share of face value of Rs 10 eachof the company”. At the upper end of the price band, the public issue is expected to fetch Rs 9.8 billion. 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.
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