Announced Tue, 23 Jun · 19:23 IST
Subsidiary allots CCPS to identified investors, more capital raise planned
Fund Raising View source PDF
ASTERDM · price
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₹769.65
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AI summary
Subsidiary Aster DM Super-Specialty Hospital (Sarjapur) allotted 12 lakh fully paid-up Series A CCPS at Rs 50 face value and 34.3 lakh partly paid-up Series B CCPS at Rs 50 face value (Rs 5 paid-up) to identified investors via private placement. Each CCPS converts into up to 5 equity shares of the subsidiary. Parent holding stays above 75 percent on a converted basis. Further capital raise is being planned.
Likely market impact
Mild dilution risk in subsidiary via CCPS conversion, but parent retains over 75 percent control. New investors bring capital for hospital expansion.