Aster DM Healthcare promoters cut share pledge to 41% after refinancing debt

New Delhi: Aster DM Healthcare on Wednesday said its promoters have reduced their share pledge from 99 per cent to 41 per cent after completing a debt refinancing transaction from top-tier global financial institutions.

As part of the refinancing process, the new lenders -- JP Morgan, HSBC, and Barclays -- provided fresh funding, enabling Aster DM Healthcare promoters to refinance its existing loans at better terms as well as loan-to-value, the company said in a statement.

"The reduction in Aster's pledged shares is a significant testament to our financial strength as promoters, especially in light of the volatile global market conditions," Aster DM Healthcare Founder and Chairman Azad Moopen said.

It reflects the strong confidence the promoters have in the company's growth trajectory, operational excellence, and strategic direction, he added.

Aster DM Healthcare shares on Wednesday were trading 0.75 per cent down at Rs 430.75 apiece on BSE.