Aster DM Healthcare shares opened on a dismal start as they open at Rs 182.10, 4% lower than its issue price of Rs 190. The Aster DM Healthcare was open for IPO from February 12 to February 15. On Monday, the Aster DM Healthcare shares opened at Rs 182.10, surged to a high of Rs 187.80 and plunged to a low of Rs 176.45 on BSE.
The Aster DM Healthcare scrip opened at Rs 183 on NSE and went to a high of Rs 188 per share.
Aster DM Healthcare Group is spread across 323 establishments in nine countries and employs 2,296 doctors in total. The group was founded in 1987 by an India-born physician-turned entrepreneur Azad Moopen from Dubai. The company has a registered office in Kochi, Kerala. The founder Dr Moopen is a Calicut-educated and Dubai-based Padma Shri awardee doctor.
The initial public offer (IPO) raised upto Rs. 750 crore. For retail investors, the maximum subscription amount is Rs. two lakh. The investors can bid a minimum of 78 shares or the multiples thereof. The face value of shares is Rs. 10 and the Aster DM Healthcare IPO's price range is between Rs. 180 to Rs. 190. The initiation of refunds will commence on February 22. Credit of equity shares to demat accounts of allottees will happen on February 23. The trading of equity shares will on the stock exchanges will happen on February 26. The proceeds of issue will primarily be used for the prepayment of debt amounting to Rs.564 crore while another Rs. 110 crore will be used for buying healthcare equipment.