Morgan Stanley Buys Aster DM Shares After Olympus Sells Stake For Rs 1,530 Crore

Morgan Stanley mopped up Aster DM Healthcare Ltd. shares after key foreign investors offloaded stakes worth Rs 1,530 crore in the company through open market transactions on Friday.

Olympus Capital Asia Investments Ltd. sold a 9% stake, comprising 4.5 crore shares, according to bulk deal data on the BSE. The New York-based private equity firm sold 61.76 lakh shares at Rs 340.13 per piece, whereas it offloaded 3.8 crore shares at Rs 340 apiece.

Olympus Capital Asia Investments, as of March 2024, held a 10.10% stake in the healthcare provider.

On the other hand, Morgan Stanley Singapore Pte. and Franklin Templeton Mutual Fund bought 66.66 lakh shares and 31.57 lakh shares in the company for Rs 340 per share, respectively. The Government of Singapore also acquired a 0.52% stake at Rs 340 per share.

Olympus Capital, earlier in March 2024, had offloaded a 9.77% stake for Rs 1,980 crore. The buyers included Nippon India Mutual Fund, SBI Mutual Fund, ICICI Prudential Mutual Fund, and Capital Group-backed Smallcap World Fund, Inc.

Shares of Aster DM Healthcare closed 6.72% higher on Friday at Rs 380.20 apiece, as compared with a 0.28% decline in the NSE Nifty 50.