The Dubai-headquartered, Kochi-based healthcare group Aster DM Healthcare launches its IPO that opens on Monday. On the first day of the IPO, the issue was subscribed a paltry 19%. Out of a total of 3.73 crore shares, Aster DM Healthcare received bids for 72 lakh shares, out of which the total bids received at cut-off prices were a mere 7.68 lakh.
The company started by an Indian doctor Azad Moopen operates hospitals, diagnostic centers, medical centers, and pharmacies. The issue, that is set to raise upto Rs 750 crore, will close on February 16. The promoter group holds 43.28% stake in the company before issue. The company had posted a net profit of Rs 266 crore in the last fiscal year.
Ten Things To Know About Aster DM Healthcare IPO
1. Aster DM Healthcare Group is spread across 323 establishments in nine countries and employs 2,296 doctors in total.
2. The group was founded in 1987 by an India-born physician-turned entrepreneur Azad Moopen from Dubai. The company has a registered office in Kochi, Kerala. The founder Dr Moopen is a…