Aster DM Healthcare Gets Go Ahead From BSE, NSE For Merger With Quality Care India

Aster DM Healthcare Ltd. on Monday received no objection letters from National Stock Exchange of India Ltd. and BSE Ltd. for its proposed merger with Quality Care India Ltd.

The merger will combine Quality Care India with Aster DM Healthcare and is subject to statutory approvals, the company said in an exchange filing. The company also needs shareholder and creditor consent.

The board of the healthcare major on Nov. 29, 2024, approved the scheme of arrangements.

The company had acquired the stake in Quality Care India from BCP Asia II TopCo IV Pte Ltd (BCP) and Centella Mauritius Holdings Limited (Centella) through a share swap. Aster DM acquired 1.9 crore shares of Quality Care for a value of Rs 849.13 crore. Aster has allotted 1.86 crore shares to BCP and Centella.

After the merger, the joint entity Aster DM Quality Care will be controlled by Aster Promoters, BCP and Centella.

Aster DM Healthcare's profit increased by 22% year-on-year to Rs 90 crore for the first quarter ended June 30, 2025. The healthcare service provider reported a net profit of Rs 74 crore in the April-June quarter of last year.

Revenue increased to Rs 1,078 crore in the June quarter as compared with Rs 1,002 crore in the year-ago period.

The business update was shared after market hours. The stock settled 4.17% higher at Rs 672.55 apiece on the NSE, compared to a 0.74% advance in the benchmark Nifty 50. The shares earlier during the day rose as much as 4.79% to Rs 676.55 per share.

Aster DM's shares have risen 62.92% in the last 12 months and 30.86% year-to-date.

Out of 10 analysts tracking the company, nine maintain a 'buy' rating and one recommends a 'hold', according to Bloomberg data. The average 12-month consensus price target of Rs 690.60 implies an upside of 2.7%.