Board approves 51 percent stake buy in UAE-based Blue Tree Clinics for Rs 19.84 crore

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AI summary

Gujarat Kidney and Super Speciality will acquire 51 percent stake in Blue Tree Clinics LLC, a Dubai polyclinic in plastic surgery, cosmetic, dental and chiropractic services, for Rs 19.84 crore in cash over two tranches within 50 days. Target FY25 revenue about 24 crore INR, net profit around 7 crore INR. Deal expands company into UAE via IPO proceeds, with postal ballot to vary IPO objects. Board appointed Dr Paresh Dhoti as independent director.

Likely market impact

First overseas expansion into UAE outside core India kidney business. Watch postal ballot outcome and use of IPO funds for the Rs 19.84 crore outlay.