Aster DM looking for M&As in West, North India: CEO

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₹850-900 crore will ensure robust financial support," said Shetty. He added that over the next two-three years, the company wants to take the total tally of beds in India to more than 6,000, which will include the upcoming Aster Capital in Trivandrum with 350-plus beds in the first phase by FY26, and Aster MIMS Kasargod with 200-plus beds.

"Then we would be looking at adding bed capacity to our existing hospitals in Medcity, MIMS Kannur by about 100 beds each and Aster Whitefield with 159 beds," he added. According to Shetty, the company is also in talks with several private equity companies to come in, as the promoters are resolute in their stance to continue running the business, and “affirming commitment to maintaining a prominent market presence and driving towards becoming the industry leader." Last year, the company announced that its subsidiary would sell its stake in Aster DM Healthcare FZC to Alpha GCC for $1.01 billion, which it will use to fund its growth.

Private equity player Olympus Capital, which holds a 19% stake in the company, is looking to sell its stake, a person close to the matter revealed. Private Equity firm KKR & Co., Canadian Pension fund Ontario Teachers’ Pension Plan (OTPP) and Blackstone-backed Care Hospitals have shown keen interest in the hospital and pharmacy chain.

They have reportedly submitted non-binding term sheets to acquire a stake in Aster’s India business. This comes at a time when private equity and venture capital investors have been keen on investing in hospitals.

These investments have reportedly risen 15 times to cross ₹30,000 crore over four years from ₹1,921 crore in pre-covid 2019. “Whether through inorganic or organic means, our objective is to establish dominance in the