Aster DM Healthcare hikes stake in DRCMHPL to 70.49 pc with Rs 63 cr addl investment

New Delhi, Sep 2 (PTI) Aster DM Healthcare Ltd on Tuesday said it has hiked its holding in Dr. Ramesh Cardiac and Multispeciality Hospital Pvt Ltd in Andhra Pradesh to 70.49 per cent with the acquisition of an additional 13 per cent stake for Rs 63.01 crore.

Aster DM Healthcare had a shareholding of 57.49 per cent in Dr. Ramesh Cardiac and Multispeciality Hospital Pvt Ltd (DRCMHPL), popularly known as Aster Ramesh Hospitals, the company said in a statement.

The additional stake hike was executed under the terms of the shareholders' agreement, which provided the promoter group with a put option to divest a portion of their equity to Aster DM, it added.

"The total consideration for the 13 per cent stake amounts to Rs 63.01 crore, funded entirely through internal accruals. The transaction does not entail any change in the board composition or management structure of Aster Ramesh Hospitals," the statement said.

Aster DM Healthcare Founder & Chairman Azad Moopen said, "Our decision to increase our stake in Aster Ramesh Hospitals is a carefully considered strategic step, aligned with our vision to strengthen Aster's leadership in South India." Stating that Andhra Pradesh has always been a region of significant strategic importance for Aster, he said, "This enhanced investment reflects our strong belief in the region's potential and reinforces our commitment to expanding high-quality, accessible healthcare in non-metros and across Southern India." DRCMHPL currently operates five hospitals with 739 beds in Andhra Pradesh.

As part of ongoing efforts, Aster Ramesh Hospitals will be adding 75 beds at its Ongole unit, expected to be operational in Q2-Q3 of FY26, the statement said. PTI RKL SHW