Aster DM operates a hospital chain and is undergoing a $1 billion deal to separate its India and Gulf businesses. The board's recent meeting discussed the progress of the transaction, with the company set to receive $1.001 billion from the sale, $903 million of which will be paid at closing. An additional $98.8 million may be received later, contingent on certain events.

The board aims to distribute 70%-80% of the upfront consideration of $903 million as dividends, amounting to Rs 110-120 per share, pending completion of the transaction and approval from shareholders and Affinity.

The company believes that segregating its India and Gulf businesses will allow shareholders to realize the true value of its shares and expects the transaction to be value accretive.

Aster DM Healthcare is one of the largest private healthcare service providers operating in GCC and in India. It has a strong presence across primary, secondary, tertiary, and quaternary healthcare through our 33 hospitals, 127 clinics, 527 pharmacies (including 255 pharmacies in India operated by Alfaone Retail Pharmacies under brand license from Aster), and 229 labs and patient experience centers in seven countries, including India.

The company recorded a consolidated net loss of Rs 30.79 crore in Q2 FY24 as against a net profit of Rs 46.21 crore reported in Q2 FY23.