Aster DM promoters reduce share pledge to 41% for debt refinancing

The promoters of Bengaluru-based Aster DM Healthcare have successfully reduced their share pledge from 99 to 41 per cent following a debt refinancing transaction with top-tier global financial institutions. As part of the process, renowned lenders JP Morgan, HSBC, and Barclays provided new funding, according to the company statement on Wednesday.

 

"The reduction in Aster’s pledged shares is a significant testament to our financial strength as promoters, especially in light of the volatile global market conditions. It reflects the strong confidence we have in our company’s growth trajectory, operational excellence, and strategic direction,” said Azad Moopen, founder and chairman of Aster DM Healthcare.

 

“This milestone also reinforces trust among our stakeholders, investors, and partners as we continue to expand our footprint in India,” added Moopen.

 

Furthermore, the fresh funds provided will enable Aster DM’s promoters to refinance their existing loans at better terms as well as improve the loan-to-value (LTV) ratio.

 

Aster DM Healthcare operates across primary, secondary, tertiary, and quaternary healthcare through 19 hospitals with 5,128 beds, 13 clinics, 203 pharmacies, and 254 labs and patient experience centres across five states in India.

 

Aster DM’s shares on Wednesday closed at Rs 434.05 apiece, down 0.24 per cent.