NewsVoir
Bengaluru (Karnataka) [India], March 12: In line with the stated strategy, the promoters of Aster DM Healthcare have successfully reduced their share pledge from 99% to 41% after completing a debt refinancing transaction from top-tier global financial institutions.
As part of the refinancing process, the new reputed lenders - JP Morgan, HSBC, and Barclays provided fresh funding, enabling Aster DM Healthcare promoters to refinance its existing loans at better terms as well as loan-to-value (LTV).
Dr. Azad Moopen, Founder and Chairman of Aster DM Healthcare, said, "The reduction in Aster's pledged shares is a significant testament to our financial strength as promoters, especially in light of the volatile global market conditions. It reflects the strong confidence we have in our company's growth trajectory, operational excellence, and strategic direction. This milestone also reinforces trust among our stakeholders, investors, and partners as we continue to expand our footprint in India."
Aster DM Healthcare Limited is one of the largest healthcare service providers operating in India with a strong presence across primary, secondary, tertiary, and quaternary healthcare through 19 hospitals with 5,128 beds, 13 clinics, 203 pharmacies (Operated by Alfaone Retail Pharmacies Private Limited under brand license from Aster), and 254 labs and patient experience centers across 5 states in India, delivering a simple yet strong promise to different stakeholders: "We'll Treat You Well".
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