Aster DM Healthcare Limited — JV/Acquisition, 29-11-2024: Amalgamation/Merger

Aster DM Healthcare Ltd has approved the acquisition of 1,90,46,028 equity shares in Quality Care India Limited (QCIL), representing a 5% stake, from BCP Asia II TopCo IV Pte. Ltd and Centella Mauritius Holdings Limited. This will be executed via the issuance of 1,86,07,969 equity shares of Aster at an issue price of INR 456.33 per share, strengthening Aster's integration with QCIL ahead of a proposed merger.

The board also approved a scheme of amalgamation with QCIL, aiming for enhanced scale, diversification, and operational synergies. The share exchange ratio is set at 977 shares of Aster for every 1,000 shares of QCIL. Post-merger, promoters from BCP will jointly control the company with current promoters. Shareholder approval is sought via postal ballot.