BENGALURU: In a significant step towards strengthening its financial position, the promoters of Aster DM Healthcare have reduced their pledged shares from 99 per cent to 41 per cent after securing fresh funding through a debt refinancing transaction with top-tier global financial institutions.
Aster DM Healthcare, founded by Dr Azad Moopen in 1987, has grown into one of India’s largest private healthcare providers, with a strong presence in hospitals, clinics, pharmacies, and diagnostic centres.
The company operates a network of 19 hospitals with 5,128 beds, 13 clinics, 203 pharmacies (run by Alfaone Retail Pharmacies Pvt Ltd under a brand licence from Aster), and 254 labs and patient experience centres across five states in India.
As part of the refinancing process, reputed global lenders – including JP Morgan, HSBC, and Barclays – provided fresh capital, allowing the promoters to refinance their existing loans at better terms and a more favourable loan-to-value (LTV) ratio.
Commenting on the development, Dr Azad Moopen, Founder and Chairman of Aster DM Healthcare, said that the reduction in Aster’s pledged shares is a testament to the financial strength of promoters, especially in the face of volatile global market conditions.
“It reflects our confidence in the company’s growth trajectory, operational excellence, and strategic direction. This milestone also reinforces trust among our stakeholders, investors, and partners as we continue to expand our footprint in India,” Dr Moopen said.
Aster DM Healthcare has been on an expansion spree, strengthening its presence in India while maintaining a significant footprint in the Gulf region. The company’s strategy has focused on sustainable growth, enhanced financial stability, and a commitment to delivering quality healthcare under its promise: “We’ll Treat You Well.”
