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Globally renowned Aster DM Healthcare intends to tap the equity markets to fund its future expansion plans in India.
“We are planning for an IPO in the next six months to one year to fund our future requirements. The company has identified the bankers for the offer and is going ahead with the proposal,” Azad Moopen, Chairman, Aster DM Healthcare, said. He, however, declined to divulge the size and details of the IPO, citing restrictions from bankers at this point in time.
Initial focusIn an interaction with BusinessLine , he said the southern and western regions in the country would be the initial focus. With these expansion plans, the company hopes to emerge as one among the top three players in the healthcare segment.
The group is currently operating eight hospitals in Hyderabad, Bengaluru, Maharashtra, Kozhikode and the recently opened ₹600-crore Aster Medcity in Kochi. The new 400-bed healthcare facility in Bengaluru on the Airport Road, which is being set up at an investment of ₹250 crore, will be ready for operations by the end of this year.
Besides the group has six hospitals in Saudi Arabia, UAE and Qatar and another five hospitals are in pipeline in various Gulf countries, he said.
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