Private equity firm Olympus to sell upto 10% stake in Aster DM Healthcare on Friday
Olympus Capital Asia Investments is set to trim its stake in Aster DM, with a base offering of 2.5 crore shares, representing 5% of the company. Olympus currently holds a 10.1% stake in Aster DM.
By Rajesh Mascarenhas, ET Bureau |
Agencies
Mumbai: Private equity firm Olympus is likely to sell up to 10% stake in Aster DM Healthcare on Friday through block deals to raise about Rs 1,700 crore. According to the term sheet issued by Kotak Securities, the PE firm has proposed a floor price of Rs 331 per share — a 7.1% discount to Thursday’s closing price of Rs 356.35.
The base size is 2.5 crore shares, constituting 5% of the company, with an option to increase it to another 2.5 crore shares, or 5% of total equity, in case of oversubscription.
As of March 31, 2024, Olympus Capital Asia Investments held a 10.1% stake in Aster DM.
In March, Olympus sold about a 9.8% stake in Aster DM Healthcare through a block deal for Rs 1,978 crore. The shares were sold for Rs 406 apiece then. Following the sale, Olympus Capital’s stake in the company was reduced to 10.1%.
The stock has declined 17% in the last three months compared to an 8% gain in the Nifty index.
The base size is 2.5 crore shares, constituting 5% of the company, with an option to increase it to another 2.5 crore shares, or 5% of total equity, in case of oversubscription.
As of March 31, 2024, Olympus Capital Asia Investments held a 10.1% stake in Aster DM.
In March, Olympus sold about a 9.8% stake in Aster DM Healthcare through a block deal for Rs 1,978 crore. The shares were sold for Rs 406 apiece then. Following the sale, Olympus Capital’s stake in the company was reduced to 10.1%.
The stock has declined 17% in the last three months compared to an 8% gain in the Nifty index.
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