Aster DM Healthcare shares gain over 3% after 4.7 crore shares change hands in block deal

According to the data available on stock exchanges, as many as 4.7 crore shares of Aster DM Healthcare were traded via open market transactions at an average price of ₹345 per share, for a total deal size of ₹1,607 crore.

The average price was over 3% lower than the stock’s previous close of ₹356.25 apiece on Thursday on the National Stock Exchange of India (NSE).

Aster DM Healthcare shares rose as much as 3.5% on Friday to hit an intra-day high of ₹368.75 on NSE. Notably, the stock is down more than 10% year-to-date, but is up almost 26% in the past one year.

The buyers and sellers in the block deal were not immediately known. However, according to media reports, private equity firm Olympus Capital Asia Investments Ltd was planning to sell its entire 10.1% stake in Aster DM Healthcare to make a complete exit from the company.

Olympus was reportedly looking to sell a 5% equity stake in the firm, with an option to sell another 5% depending on demand.

Olympus sold some of its stake in Aster DM Healthcare in March this year, when it offloaded 9.8% equity in the company at an average price of ₹405-406.72 per share for ₹1,978 crore.

Aster DM Healthcare is a public-based premium healthcare provider founded in 1987. It has a unique portfolio of specialised brands to serve the needs of patients in Primary, Secondary, Tertiary and Quaternary Care, Healthcare Retailing, Diagnostic Labs, Digital Health and Medical Education.