BSE and NSE Give No Objection Letters to the Aster–Quality Care Merger

Aster DM Healthcare Limited announced on Monday (October 6, 2025) that it has received No Objection letters from both BSE Limited and the National Stock Exchange of India Limited for its proposed merger with Quality Care India Limited (QCIL). The exchanges confirmed that there were no adverse observations regarding the proposed scheme.

The merger, previously approved by the boards of both companies, aims to combine Quality Care India (Transferor Company) with Aster DM Healthcare (Transferee Company) under Sections 230–232 of the Companies Act, 2013. The proposal remains subject to further regulatory and statutory clearances, including the approval of shareholders and creditors.

Background and Regulatory Details

This step follows Aster’s earlier filing on November 29, 2024, when the board approved the merger plan in compliance with SEBI Listing Regulations, including Regulation 30 and 37, as well as SEBI’s Master Circular on Schemes of Arrangement.

Aster DM Healthcare had earlier acquired a significant stake in Quality Care India from BCP Asia II TopCo IV Pte Ltd (BCP) and Centella Mauritius Holdings Limited (Centella) through a share swap deal. The acquisition involved 1,90,46,028 equity shares of QCIL valued at ₹849.13 crore. In return, Aster allotted 1,86,07,969 equity shares (face value ₹10 each) to BCP and Centella.

New Entity: Aster DM Quality Care

Once the merger is completed, the combined company will operate under the name Aster DM Quality Care. The merged entity will be jointly controlled by Aster Promoters and BCP.

Aster said the merger will create one of India’s largest integrated healthcare networks, combining clinical expertise, technology, and operational capabilities to expand access to quality medical services across the country.

Aster DM Healthcare Share Price Reaction

Following the announcement, shares of Aster DM Healthcare rose 4.20% to close at ₹672.30 on the BSE, up ₹27.10 from the previous close. At 9:50 AM, the stock was trading roughly at 0.45% loss at ₹669.50. 

Read more: Ather Energy Crosses A Major Production Milestone of 5 Lakh.

Conclusion

The exchange approval marks an important milestone toward completing the merger process, which is expected to strengthen Aster’s presence in India’s growing healthcare market.

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