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.
Following the stake sale, the board will consider distributing 70–80 percent of the upfront consideration of $903 million as a dividend to its shareholders
The board of directors held a meeting on Monday to discuss the progress of the transaction between Affinity Holdings and Alpha GCC Holdings for segregation of the companys GCC business.
ster DM is currently trading at 430 level, having recently experienced a robust breakout above the 423 level, marked by a significant runaway gap. This breakout was accompanied by strong volumes, indicating substantial strength in the stock.
Shares of Aster DM Healthcare jumped over 12% and hit a 52-week high of Rs 449.70 after the company announced a dividend from the proceeds of the sale of a majority stake in Gulf Cooperation Council business.