Aster DM converts ₹102.46 Cr loan to subsidiary equity

Aster DM Quality Care Limited announced that its Board of Directors has approved the conversion of a pre-existing loan of INR 102.46 Cr extended to its wholly-owned subsidiary, Sri Sainatha Multispeciality Hospitals Private Limited, into equity shares. This internal capital restructuring will result in Sri Sainatha issuing 10,24,62,779 equity shares of face value INR 10/- to Aster DM. The transaction will not impact the ownership or control of the subsidiary. Additionally, the company will seek shareholder approval for this conversion via postal ballot and has approved the termination of Operation & Management Services and Medical Services Agreements with DM Education and Research Foundation.