Aster Health plans to raise Rs 1200cr via IPO

12 Nov 2014

India's third-largest healthcare service provider Aster DM Healthcare has announced three lead banks - Bank of America Merrill Lynch, Goldman Sachs and Kotak - to manage its Rs 1,200-crore initial public offering (IPO) scheduled for early next year, reported media.

The IPO is expected to value Aster at around Rs 12,000 crore, possibly catapulting founder and Chairman Dr Azad Moopen onto the list of Indian billionaires and among the richest healthcare entrepreneurs, as per the media reports.

The company plans to sell 10 per cent shares on the bourses though details of the same are not finalized yet.

This would be more than double the valuation of Fortis Healthcare, controlled by brothers Malvinder and Shivinder Singh, with Rs 5,581 crore in current market value.

Source: Dion Global Type: IPO Related

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