Olympus Capital Asia Sells INR 1,530 Cr Stake in Aster DM Healthcare

According to data from the Bombay Stock Exchange (BSE), Olympus Capital Asia Investments executed this transaction through open market deals, selling 4.50 Cr shares, equivalent to a 9% stake in the Dubai-based hospital chain.

Hong Kong-based investment firm Olympus Capital Asia has divested a significant portion of its holdings in Aster DM Healthcare, amounting to approximately INR 1,530 Cr. 

Per the Bombay Stock Exchange (BSE) data, Olympus Capital Asia Investments executed this transaction through open market deals, selling 4.50 Cr shares, equivalent to a 9% stake in the Dubai-based hospital chain.

The shares were sold at INR 340 and INR 340.13 each, aggregating the total transaction value to INR 1,530.08 Cr. 

Following this transaction, Olympus Capital Asia's ownership in Aster DM Healthcare reduced from 10.1% to 1.1%.

Investor Movement

In response to Olympus Capital Asia's stake sale, Franklin Templeton Mutual Fund, the Singapore government, and Morgan Stanley Asia Singapore collectively acquired 1.24 Cr of Aster DM Healthcare at an average price of INR 340 per share. 

This purchase amounted to INR 423.31 Cr, reflecting continued investor interest in the healthcare sector.

However, details regarding additional buyers of Aster DM Healthcare shares remain undisclosed at this time.

Aster’s Expansion Plans 

Recently, Aster DM Healthcare planned to enhance its presence in Bengaluru by adding 350 beds to its existing infrastructure, investing approximately INR 250 Cr. 

This expansion aims to increase the bed capacity of Aster CMI Hospital from 500 to 850 by the fiscal year 2027, contributing to the company's strategy to strengthen its healthcare services in the region.

According to company sources, this development involves substantial infrastructure upgrades, including adding 300,000 square feet to the hospital's premises. 

Upon completion, Aster DM Healthcare's total bed capacity in Bengaluru will reach 1,602 beds, solidifying its position as one of the largest healthcare providers in the city.

In a related move within the healthcare sector, Fosun Pharma Industrial Pte, a subsidiary of Shanghai Fosun Pharmaceutical, announced plans to reduce its stake in Gland Pharma by 5%, equating to $172 million. 

This decision follows unsuccessful attempts to offload the stake in a single transaction. Instead, it opts for block deals at a floor price of INR 1,750 per share, reflecting a 4.9% discount to the previous closing price.