Aster DM Healthcare Limited has received an overwhelming 96.68% voting approval from its shareholders for the proposed merger with Quality Care India Limited (QCIL). The merger is set to create one of India’s top three hospital chains.
The approval from shareholders, including a significant majority of minority shareholders and creditors, marks a major milestone for the Scheme of Amalgamation. The merger, which had already received approvals from the Competition Commission of India (CCI) and stock exchanges, is expected to be completed in the next quarter, pending final regulatory and statutory approvals from the National Company Law Tribunal (NCLT).
Dr. Azad Moopen, Founder Chairman of Aster DM Healthcare, expressed confidence in the strategic rationale of the merger, highlighting the potential to build a future-ready healthcare platform. The combined entity, Aster DM Quality Care Ltd, will operate 39 hospitals with over 10,625 beds across 9 states and 28 cities, supported by more than 36,307 employees and clinicians.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
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