HBI Deals+Insights / M&A/IPOs

Puzzles in Aster DM’s red herring prospectus

Middle East and Indian hospitals to pharmacy chain Aster DM’s red herring IPO prospectus begs as many questions as it answers. Why is EBITDA so low? Will its founder escape criminal charges? Why does it not include full financial year data? So how can it be worth 16,000 crores (an eye watering $2.4bn), that is more than Narayana and Fortis put together?

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