Aster DM Healthcare To Issue Shares On Preferential Basis—Details Here
Aster DM Healthcare share price rose 1.30% to Rs 437.35 apiece.
Aster DM Healthcare Ltd. will issue shares on preferential basis for consideration other than cash. For this purpose, the company has received in-principle approval from both the National Stock Exchange Ltd and BSE Ltd.
Aster DM Healthcare will issue 1.86 crore shares with the face value of Rs 10 at a price not less than Rs 456.33 to non-promoters on preferential basis pursuant to the share swap, the company said in an exchange filing.
The preferential share issue is now subject to the approval of Competition Commission of India, it said in the exchange filing. The stock exchanges asked Aster DM Healthcare to monitor trading activities especially before the allotment to avoid non-compliance, especially with Issue of Capital and Disclosure Requirements rules.
Aster DM Healthcare share price rose 1.30% to Rs 437.35 apiece. It was trading 0.47% higher at Rs 433.80 apiece as of 2:22 p.m. as compared to 0.26% decline in the NSE Nifty 50 index.
The stock rose 5% in 12 months. Total traded volume on NSE so far in the day stood at 0.60 times its 30-day average. The relative strength index was at 51.91.
Nine analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 35.8%.
