Aster DM Healthcare Limited

From a single clinic to a performance-driven healthcare enterprise spread across 308 establishments in 9 countries and growing, Aster DM Healthcare has transitioned into being a growing network across the Middle East, India, and the Far East. Currently one of the largest and fastest-growing conglomerates in the MENA region, Aster DM Healthcare covers the full spectrum of healthcare services. An expansive portfolio includes hospitals, clinics, Diagnostic centers, and retail pharmacies. Headquartered in Dubai, the Aster DM network now encompasses 17,594 employees, 2860 doctors with several JCI accredited Hospitals, clinics, and Diagnostic Centres. The financials of the company are good over the years, RoE is around 1.69% and at CMP its looks fully priced. Price difference is around 30% and acceptance ratio as per current share holding for retail will be around 10% for RII and after announcement of buyback possibility of retail holding will increase. So expected acceptance ratio would be around 10% and gain around 3% for retail investors. So we give AVOID rating to this buyback.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal