The lower end of the range suggested a 8.5 per cent discount to Aster DM Healthcare's Tuesday's closing price. Following the report, shares of Aster DM Healthcare fell 7.24 per cen to hit a low of Rs 436.65 on BSE.
According to the bulk deal data available with the BSE, more than 4.42 crore equity shares of Aster DM Healthcare were sold by Olympus Capital Asia Investments and 45.59 lakh shares by Olympus ACF Pte Ltd of the company. In a separate deal, Capital Group acquired shares of Aditya Vision, a financial services company, for Rs 95 crore.
In reaction to the recent disclosure by Aster DM Healthcare and its commitment to allot 70-80% of the revenue generated from the sale of its Gulf Cooperation Council (GCC) business to Alpha GCC Holdings for distribution to shareholders, Institutional Investor Advisory Services India (IiAS), a proxy advisory firm, has revised its voting recommendation from "against" to "for."
Aster DM Healthcare: Brokerage Prabhudas Lilladher said adjusted for GCC stake, India business is trading at 19 times and 15 times EV/Ebitda on FY25E and FY26, respectively. This, the brokerage said is at 15-30 per cent discount to listed peers.
Hospital chain Aster DM Healthcare announced the sale of its Gulf business for $1.001 billion, with a consortium led by Fajr Capital acquiring a 65% stake.