Subsidiary Sarjapur allots CCPS to investors, more capital raise planned
ASTERDM · price
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Aster DM's subsidiary, Aster DM Super-Specialty Hospital Sarjapur, allotted 12 lakh fully paid-up Series A CCPS and 34.3 lakh partly paid-up Series B CCPS at Rs 50 face value to certain identified investors on a preferential basis via private placement. Each CCPS can convert into up to 5 equity shares. The subsidiary is also finalising more investors for additional CCPS issuance. Aster DM will retain over 75 percent shareholding on an as-if converted basis.
Growth capital raised at subsidiary level. Parent Aster DM keeps majority control above 75 percent, limiting any major dilution risk at the listed entity for now.