Aster DM Healthcare IPO

Aster DM Healthcare IPO

Business description - Aster DM Healthcare is one of the largest private healthcare service providers which operate in multiple GCC states based on numbers of hospitals and clinics. The company currently operates in all of the GCC states, which comprises the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, in Jordan, in India and the Philippines. The company’s GCC operations are headquartered in Dubai, United Arab Emirates and Indian operations are headquartered in Kochi, Kerala.

The company operates in multiple segments of the healthcare industry, including hospitals, clinics and retail pharmacies and provides healthcare services through various brands “Aster”, “Medcare” and “Access”. The company commenced operations in 1987 as a single doctor clinic in Dubai established by founder, Dr. Azad Moopen. The company was incorporated in 2008 in a reorganisation to facilitate the growth of its operations, subsequent to which operations in the GCC states and India were consolidated.

The company had 149 operating facilities, including 10 hospitals with a total of 1,419 installed beds, as of 31 March 2013 and has expanded to 316 operating facilities, including 18 hospitals with a total of 4,651 installed beds, as of 31 March 2017. Further, it entered into an operation and management services agreement with Rashtreeya Sikshana Samithi Trust in Bengaluru effective 25 February 2017 to provide operation and management services at a hospital in J P Nagar, Bengaluru. In August 2014, it launched Aster Medcity in Kochi, Kerala, a multi-speciality hospital with a 670 bed capacity, to be positioned as a destination for medical value travel. 

Promoters of Aster DM Healthcare - Dr Azad Moopen and Union Investments Private Limited
Aster DM Healthcare IPO details
Subscription Dates 12 - 15 February 2018 
Price Band INR180 - 190 per share
Fresh issue INR725 crore
Offer For Sale 13,428,251 shares (INR241.17 - 255.14 crore)
Total IPO size INR966.17 - 980.14 crore
Minimum bid (lot size) 78 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Use of funds
  • Repayment and/or pre-payment of debt
  • Purchase of medical equipment
  • General corporate purposes
Aster DM Healthcare's financial performance (in INR crore)
FY2013 FY2014 FY2015* FY2016* FY2017* H1 FY2018*
Total revenues 1,938.8 2,889.6 3,899.0 5,275.2 5,967.9 3,141.4
Total expenses 1,787.9 2,579.3 3,592.9 5,236.7 6,275.2 3,207.3
Profit after tax 91.8 177.8 272.1 8.2 266.7 -82.7
Net margin (%) 4.7 6.2 7.0 0.2 4.5 -2.6

* As per Ind-AS accounting standards

Aster DM Healthcare Contact Details

Aster DM Healthcare Limited 
IX/475L, Aster Medcity, Kuttisahib Road
near Kothad Bridge, South Chittoor P.O.
Cheranalloor, Kochi - 682 027

Phone: +91 484 6699 228
Fax: 
+91 484 6699 862
Email:
[email protected]
Website: www.asterdmhealthcare.com

Registrar of Aster DM Healthcare

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai - 400 083

Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website: http://www.linkintime.co.in

Valuation of Aster DM Healthcare (Based on latest FY)

Earnings Per Share (EPS): INR4.28

Price/Earnings (P/E) ratio: 42.05 - 44.39

Return on Net Worth (RONW): 10.59%

Net Asset Value (NAV): INR40.5 per share

Aster DM Healthcare IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 10,517,400 0.50 0.50 2.09
NII 8,055,905 0.16 0.23 0.55
Retail 18,797,110 0.15 0.47 1.14
Total 37,370,415 0.25 0.43 1.29

Aster DM Healthcare IPO Allotment Status

Aster DM Healthcare IPO allotment status is now available on Link Intime's website. Click on this link to get allotment status.

Listing Performance of Aster DM Healthcare

IPO Opening Date: 12 February 2018

IPO Closing Date: 15 February 2018

Finalisation of Basis of Allotment: 22 February 2018

Initiation of refunds: 22 February 2018

Transfer of shares to demat accounts: 23 February 2018

Listing Date: 26 February 2018

Listing Price on NSE: INR183 per share (down 3.68% from IPO price)

Closing Price on NSE: INR181.55 per share (down 4.44% from IPO price)

Aster DM Healthcare IPO
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10 thoughts on “Aster DM Healthcare IPO

  • February 13, 2018 at 6:19 PM
    Permalink

    Not a bad business but the price is too high!

    Reply
  • February 12, 2018 at 2:02 PM
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    Gmp only 5-10 rs
    Pls avoid

    Reply
  • February 11, 2018 at 6:06 PM
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    Loss making company
    Stay away

    Reply
  • February 9, 2018 at 9:13 PM
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    Thanda IPO, no excitement around it!!

    Reply
  • February 8, 2018 at 9:46 PM
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    Good results yoy posted by aster rather than Galaxy surfactant it was good listing today. And positive move by market last two days. So I think aster will be positive subscribe
    190 is attractive price.

    Reply
  • February 8, 2018 at 9:46 AM
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    what was the ebitda for the previous years of the comapny?

    Reply
  • February 4, 2018 at 1:56 PM
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    @bullishbear. You are right, I’ve never made profits in hospitals and have now made it a point to stay away from these stocks. Aster may be good but I love my money!!

    Reply
  • February 4, 2018 at 10:17 AM
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    Aster DM Healthcare IPO:

    Dates – 12 Feb to 15 Feb
    Price Band – 180 to 190
    Bid Lot – 75 shares
    Application Amount – 14,250
    Issue Size — Fresh Issue (725 Cr.) + OFS (13.4 mn shares)
    Issue Structure — QIB-50%, HNI-15%, Retail-35%

    Reply
    • February 4, 2018 at 11:17 AM
      Permalink

      180 – 190 means PE ratio will be 42 – 44.4. Not very comfortable or attractive. Narayana Hrudayalaya a much better bet but overall investors have seldom made money in hospitals. Somehow, hospitals lose their edge as they grow. Sometimes, this happens too fast in the lifetime of founders. Example Fortis

      Reply
  • February 4, 2018 at 7:11 AM
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    Bad timing. This year is going to be bad for IPOs.

    Reply

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