PE firm Olympus to sell 9.8% stake in India's Aster DM for up to $234.5 mn

Private equity firm Olympus Capital Asia plans to sell a 9.8% stake in India's Aster DM Healthcare for up to 19.53 billion rupees (nearly $234.5 million), according to a term sheet seen by Reuters on Tuesday.

Olympus Capital, which owns about 19% stake in the hospital chain, is planning the sale at 400-437.20 rupees per share. The lower end of the range represents an 8.5% discount to Aster DM stock's last close and no discount at the upper range.
 

Aster DM and Olympus did not immediately respond to a Reuters' request for comment.
 

Shares of the company closed down 0.3% on Tuesday and have gained about 6.7% so far this year.