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Aster DM Healthcare Ltd IPO (Aster DM Healthcare IPO) Detail

Feb 12, 2018 - Feb 15, 2018

Incorporated in 1987, Aster DM Healthcare Ltd is Kochi, Kerala based healthcare service provider with operations in GCC states (United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain), India and the Philippines. Company’s Indian operations are headquartered in Kochi, Kerala.

Aster DM Healthcare operates in multiple segments of the healthcare industry including hospitals, clinics and retail pharmacies. Company operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems. Company provides healthcare services to patients across economic segments under brand names including "Aster", "Medcare" and "Access".

Aster's healthcare facilities consist of 9 hospitals, 90 clinics and 206 retail pharmacies in the GCC states, 10 multi-specialty hospitals and 7 clinics in India, and 1 clinic in the Philippines as of September 30, 2017. Aster's had 17,408 employees as of September 30, 2017, including 1,417 full time doctors, 5,797 nurses, 1,752 paramedics and 8,442 other employees (including pharmacists).

Aster's hospitals in India are located in Kochi, Kolhapur, Kozhikode, Kottakkal, Bengaluru, Vijayawada, Guntur, Wayanad and Hyderabad and are generally operated under the Aster, MIMS, Ramesh and Prime brands.

Company Promoters:

Dr. Azad Moopen and UIPL (Union Investments Private Limited) are the Promoters of the Company.

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (in Rs. million)
31-Mar-17 31-Mar-16 31-Mar-15 (Proforma)
Total Assets 68,072.77 57,557.82 44,120.27
Total Revenue 59,679.02 52,751.63 38,990.49
Profit After Tax 2,667.47 82.11 2,721.07

Objects of the Issue:

The Offer comprises the Fresh Issue and the Offer for Sale.

Company will not receive any proceeds from the Offer for Sale.

Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

1. Repayment and/or pre-payment of debt;
2. Purchase of medical equipment; and
3. General corporate purposes.

Issue Detail:

  »»  Issue Open: Feb 12, 2018 - Feb 15, 2018
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size:
    ›  Fresh Issue of [.] Equity Shares of Rs 10 aggregating up to Rs 725.00 Cr
    ›  Offer for Sale of 13,428,251 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 180 - Rs 190 Per Equity Share
  »»  Market Lot: 78 Shares
  »»  Minimum Order Quantity: 78 Shares
  »»  Listing At: BSE, NSE

Aster DM Healthcare IPO Reviews / Recommendations:

Dilip Davda's - Subscribe for Long Term
Capital Market Review
Hem Securities - Avoid
SSJ Finance - Avoid
SPA Securities - Subscribe
SMC Research - Subscribe with high risk

 

Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & TimeQIBNIIRIITotal
Shares Offered / Reserved10,317,2297,737,92218,055,15136,110,302
Day 1 - Feb 12, 2018 16:40 IST0.50000.16000.15000.2500
Day 2 - Feb 14, 2018 17:00 IST0.50000.23000.47000.4300
Day 3 - Feb 15, 2018 17:00 IST2.10000.55001.18001.3100

Aster DM Healthcare IPO Prospectus

Aster DM Healthcare IPO Rating

898
3.8
Rating:Rated 3.8 stars

Vote Here ...

Aster DM Healthcare IPO News Alerts

  1. Thursday, February 15, 2018 12:00:00 AM
    Aster DM Healthcare IPO Closes on Feb 15, 2018
  2. Monday, February 12, 2018 12:00:00 AM
    Aster DM Healthcare IPO Opens on Feb 12, 2018

Company Contact Information

Aster DM Healthcare Ltd
IX/475L, Aster Medcity, Kuttisahib Road,
near Kothad Bridge, South Chittoor P.O.,
Cheranalloor , Kochi - 682 027, Ernakulam
Phone: + 91 484 6699 228
Fax: + 91 484 6699 862
Email: investors@ aster dmhealthcare.com
Website: http://www.asterdmhealthcare.com

Aster DM Healthcare IPO Registrar

Link Intime India Private Ltd   »  Report
   Link Intime India Private Ltd,
   C-13 Pannalal Silk Mills Compound,
   LBS Marg, Bhandup West, Mumbai 400078

Phone: +91-22-25963838
Fax: +91-22-25946969
Email: adhl.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

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Aster DM Healthcare IPO Review / Comments

avatar
289. Samim Ahammad  Feb 23, 2018 9:45:23 PM IST I Like It. | Report Abuse Reply
Aster dm listing 206
avatar
288. Aniketiaf  Feb 23, 2018 8:35:13 PM IST I Like It. 2 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 2000+ Likes)
@ Vadher meera,

Forget about GMP.
&
Needn''t worry....

Chance of listing gain is still more than listing loss.
If negative listing will be there on Monday, than hold it. Within 3 month you will get 200+ exit.
avatar
287. Vadher meera  Feb 23, 2018 7:56:38 PM IST I Like It. | Report Abuse Reply
Aster gmp please
avatar
286. gamble  Feb 13, 2018 7:19:51 PM IST I Like It. 48 | Report Abuse Reply
IPO Guru IPO Guru (1600+ Posts, 3700+ Likes)
................ Aster DM healthcare............
(We''ll treat you well..!! )
_________________________________________
Operating in healthcare segment with
-Hospitals (19)
-Retail pharmacies (206)
-clinics(98)
With revenue contribution 46%,27%,27% respectively in GCC- middle east countries (UAE, Saudi, Qatar etc)and india as well as Philippines as of march, 2017
- contribution in total revenue of gulf countries are 81%.
-Total hospital business contributing 49% of 31 sept 2017.
(so as name suggests this is healthcare firm, more wider than specific hospital business)
_________________________________________
Revenue CAGR : 32.5%
PAT caGr : 30%(uneven growth)
EBITDA caGr : 8%
M.cap @190rs ≈ 8400cr
D/E = 1.4x (pre ipo)
D/E = 0.8x(post ipo)
______________________________________
Peer :
No actual peer available that doing exactly same business as aster does, but Apollo hospital somewhat more comparable than other peer.

................. PE....... PS........topline growth

Aster......... 44........1.4x........33%
Apollo........71........2.3x........17%
NH............ 75.........3.3x.......18%
HcG...........120........4x.........17%
Shalby........55......... 7x........11%

PS = m.cap/sales

Aster shown extraordinary top line growth compared to peers ,must be due to aggressive expansion plan and that leads to negative bottom line in 2017(excluding exceptional) and 2018 half year.

_________________________________________
Valuation :

@190 rs 2017 PE = 44
2018 PE = NA (made loss in first half)

Here in hospital segment and/or healthcare segment PE is imo not much useful because you can verify stocks trading 20 to 120 PE comfortably.
So sales base valuation may good approch here.

@2x sales(near Apollo) m.Cap = 12000+ cr.
(half year sales = 3140cr)

@12k cr valuation Price = 270(fair value imo)(1 yr after list)

@1.5x sales = 210 INR(within a month/listing)
________________________________________
Cons
- loss making first half
- low presence in India
- high EV/EBITDA ratio(profitability concerns)
- planning few more hospitals within 2 years, PAT continue to remain under pressure

Pros
- PE player not exiting.
- diversified business
- beds increased 1419 to 4754 within 5 yr.
- aggressive expansion plans
- out of 9 hospitals in Gulf countries 4 are established in less than 5 years(so this are not contributing at full in financials generally it takes 5 yrs to contribute full after establishment)
- D/E will decreased 1.5 to 0.8x post issue.
_________________________________________
Rii reqd 2.3L + forms for 1x,
Looking at neutral or risky rating by top reviewer, 0 GMP and Volatile market conditions only 4-5L forms expected,
i.e = 1/2 allotment chances (more than fair!)
_______________________________________
ConcL

One may subscribe to this finest healthcare player(but yet to deliver) for semi-med to medium term approach.
Listing gain may be 0.5 to 1FD. Or may wait for Last day Nii/QIB figures

Consider above as an imo only 👆












avatar
286.6. PavanM  Feb 15, 2018 12:17:51 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Gamble, what is ur call now in view of no participation from even QIBs and poor subscription figures?
avatar
286.7. Djds  Feb 23, 2018 2:43:49 PM IST I Like It. | Report Abuse
Gamble bhai ur view on h.g .infra engineering pls post it soon sir
avatar
285. harit  Feb 22, 2018 4:42:47 PM IST I Like It. 4 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Applied 8
Allotment 8
Sold @650
avatar
285.1. Saumya  Feb 23, 2018 9:37:13 AM IST I Like It. | Report Abuse
Can somebody help in selling shares in GMP?
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284. No L  Feb 23, 2018 12:40:46 AM IST I Like It. 3 | Report Abuse Reply
40 % up
avatar
284.1. shivika  Feb 23, 2018 3:10:30 AM IST I Like It. 1 | Report Abuse
How come 40%...this is expected to open @ discount
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283. ShashiSharma  Feb 23, 2018 2:50:47 AM IST I Like It. | Report Abuse Reply
We are allot
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282. Umang and his ultrasonic uproar  Feb 22, 2018 9:33:34 PM IST I Like It. 1 | Report Abuse Reply
Samaj nahi aa raha hai ki videsh se paisa aa raha hai ya jaa raha hai........

Lane wala tha modi, le jane wala modi...
avatar
282.1. Bhallal dev  Feb 22, 2018 11:24:22 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 800+ Likes)
videsh se paisa aa bhi raha he - FII Investment
aur ja bhi raha hai - profit

farji shell company loot rahi hai

paisa lane wala tha 1 modi, le jane wale 2 modi...

jo lane wala tha usne notbandhi karke dusre ko de diya
aur isi tarah system se paisa hua gayab.

modi ka bhai ghanti chor...
avatar
281. Balwinder singh bisht  Feb 22, 2018 10:45:38 PM IST I Like It. 2 | Report Abuse Reply
3 application @190
But not allotement recd

But thanks not recd allotedment
Because listing day ipo below issue price

So, we are purchase open market rate 165 to 168
avatar
280. Aniketiaf  Feb 22, 2018 7:29:11 PM IST I Like It. 4 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 2000+ Likes)
Question and answer in modern era-

*शिक्षक- भारत छोड़ो आंदोलन की शुरुआत किसने की* 🙂
"
"
"
"
"
*छात्र - सर, विजय माल्या ने* 🤣

avatar
280.2. amit K singh  Feb 22, 2018 10:06:01 PM IST I Like It. | Report Abuse
Just think all the fraudsters are going to UK.. Before independence India''s money was going to UK. Even after 70 years of independence India''s money is going to UK. Thanks to new age Quit India movement....
avatar
280.3. amit K singh  Feb 22, 2018 10:22:39 PM IST I Like It. 1 | Report Abuse
On 11 June 2001, a Hindu katto ceremony was held to exorcise or banish the spirit of the dead King from Nepal (Nepal royal family massacre - year 2001). People believe it happened due to an evil force in Nepal. A brahmin Durga Prasad Sapkota, dressed as Birendra to symbolize the late King, rode an elephant out of Kathmandu and into symbolic exile, taking many of the actual belongings of the King with him. This is one of the rituals in Nepal where a person takes all the evil force. He was given good amount of fortune/wealth to complete the ritual and he left the nation (along with evil force). I also believe these fraudsters are going on exile out of India with a good fortune and taking the evil forces along with them out of India. Great live India.
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279. Best wishes  Feb 22, 2018 8:26:19 PM IST I Like It. 1 | Report Abuse Reply
Alloted with 01 lot.
avatar
278. Samim Ahammad  Feb 22, 2018 7:29:19 PM IST I Like It. | Report Abuse Reply
Scrip code kya hai
avatar
277. Aniketiaf  Feb 22, 2018 7:05:52 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 2000+ Likes)
GMP of Aster DM is -10 to -12
GMP of H G Infra is about 20
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276. ksp  Feb 22, 2018 6:55:38 PM IST I Like It. | Report Abuse Reply
Applied 390...Allotted 281. Let''s hope for a decent listing.
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275. Market lover  Feb 22, 2018 6:48:39 PM IST I Like It. 2 | Report Abuse Reply
Agar ye wala ipo apex frozen food ki tarah upar gaya to ma kasam sub ki fatt jayegi
avatar
274. Aniketiaf  Feb 21, 2018 7:48:18 PM IST I Like It. 16 | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 2000+ Likes)
There is a video of Jaspal Bhatti about IPO''s. ( JASPAL BHATTI AND GOLGAPPA COMPANY IPO) This video indicates how companies r planning and promoting themselves.Experts and their openions r also highlighted in the video. TO better understand me as well as the video you can consider me as Mr. Prasad ( from video )
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274.9. Aniketiaf  Feb 22, 2018 6:31:02 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 2000+ Likes)
You r M M sir. If I missed right than contact me off line sir
avatar
274.10. Aniketiaf  Feb 22, 2018 6:34:10 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 2000+ Likes)
@ Market first,
Sir,
Missed should be read as guessed.
avatar
273. Javvs  Feb 22, 2018 5:34:38 PM IST I Like It. 1 | Report Abuse Reply
possible listing price?
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273.1. Ajmera  Feb 22, 2018 6:16:11 PM IST I Like It. 1 | Report Abuse
May be 160+
avatar
272. Nitesh kumar sen Galthani  Feb 22, 2018 5:28:54 PM IST I Like It. 1 | Report Abuse Reply
1 application apply. And 1 alloted
avatar
271. bhavin saraiya  Feb 22, 2018 4:39:53 PM IST I Like It. | Report Abuse Reply
78 alloted @190 Rs. Any guess for opening price???
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271.1. Babyboy  Feb 22, 2018 5:23:23 PM IST I Like It. | Report Abuse
Good joke
avatar
270. Hooda  Feb 22, 2018 4:58:21 PM IST I Like It. 1 | Report Abuse Reply
Applied 2
Allotted 2
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