Private equity firm Olympus Capital Holdings Asia,LLC planned to sell a 9.8% stake in India's Aster DM Healthcare Limited (NSEI:ASTERDM), for up to INR 19.53 billion (nearly $235 million), according to a term sheet seen by Reuters. Olympus Capital, which owns about 19% stake in the hospital chain, is planning the sale at INR 400 - INR 437.20 per share. The low end of the range represents an 8.5% discount to the Aster DM stock's last close and no discount at the upper range.

Aster DM and Olympus did not immediately respond to Reuters' requests for comment. Reuters had reported in May that investors in Aster DM are in talks to sell a 30% stake in the company's India business for about $300 million, with Olympus Capital pegged to be one of the shareholders considering a stake sale. Kotak Securities will act as the sole bookrunner for the stake sale, according to the term sheet.

Shares of the company, which runs 34 hospitals, 130 clinics and 508 pharmacies in India and the Gulf Cooperation Council, closed down 0.3% at INR 437.20 on March 26, 2024.