Aster DM acquires 5% stake in QCIL via Rs 849 cr share swap deal

Aster DM Healthcare has completed the acquisition of a 5 per cent stake in Quality Care India Ltd (QCIL) from BCP Asia II TopCo IV Pte. Ltd (BCP) and Centella Mauritius Holdings through a share swap valued at Rs 849 crore. The deal, ahead of QCIL’s planned merger this year with Aster announced in November 2024, involves no cash outflow, the company said.

“Today marks a transformative step in our journey to become India’s most formidable integrated healthcare network. The acquisition is the first step toward the strategic merger between Aster DM Healthcare and QCIL. This move lays the foundation for a unified, future-ready healthcare network with a strengthened pan-India presence. As we progress toward full integration, our focus remains firm towards creating significant long-term value for all our stakeholders,” said Azad Moopen, Founder Chairman, Aster DM Healthcare.

The transaction involved Aster DM Healthcare acquiring 1,90,46,028 equity shares of QCIL from BCP and TPG, the company noted. As discharge of the total purchase consideration payable, Aster DM Healthcare allotted 1,86,07,969 equity shares (face value Rs 10 each) to BCP and Centella in a share swap arrangement.

The share swap was carried out following key approvals, including shareholder consent, in-principle clearances from BSE and NSE, and approval from the Competition Commission of India (CCI). It remains subject to final listing and trading approvals from BSE and NSE for the new equity shares allotted to BCP and Centella by Aster.

The newly issued shares will have equal rights (pari passu) with the existing equity shares of Aster.

The proposed merged entity, Aster DM Quality Care (pending regulatory approvals), will be jointly controlled by Aster Promoters and BCP. The merger is expected to be completed this year.