Following the footsteps of Healthcare Global Enterprises (HCG), Dubai-based Aster DM Healthcare also plans to launch initial public offering (IPO) in India. The company operates a chain of eight hospitals in southern and western parts of the country. Aster DM Healthcare plans to raise funds to fuel its future expansion plans, a top company executive told Business Line.
We are planning for an IPO in the next six months to one-year period to fund our future requirements. The company has identified the bankers for the offer and is going ahead with the proposal
– Azad Moopen, Founder and Chairman, Aster DM Healthcare
Moopen said the company’s focus will continue to be on the southern and western regions of the country. However, Moopen declined to offer more details about the public offering which is expected to play a crucial role in making the hospital chain one of the top three players in the healthcare segment.
Aster DM Healthcare’s existing network comprises of hospitals in Hyderabad, Bengaluru, Maharashtra, Kozhikode and Kochi. Latest in this list is the Aster Medcity in Kochi which was inaugurated couple of months ago by former President Dr. APJ Abdul Kalam.
A few days back, Bangalore-based cancer specialist Healthcare Global Enterprises filed its prospectus with capital market regulator SEBI. The company will offer 3.11 crore shares through the IPO which will also offer an exit opportunity to existing shareholders including PremjiInvest and India Build-Out Fund.