The new entity will have a network of 38 hospitals and over 10,150 beds in India. Aster DM Healthcare Limited and Blackstone-backed Quality Care have signed agreements to merge, creating a new listed entity,

Based on the swap ratio recommended in the valuation report, the Aster promoters will hold 24 per cent and Blackstone 30.7 per cent in the merged entity

HSBC Global Research kept a 'Buy' rating on the stock with a target price Rs 550. PL Capital maintained a 'Buy' rating on Aster DM Healthcare Ltd. and raised the target price to Rs 620 from Rs 500.

Aster DM Healthcare and Blackstone and TPG-backed Quality Care have decided to merge to create one of India's top three hospital chains.

Aster DM Healthcare and Blackstone-backed Quality Care India have announced a merger deal through a share swap deal. The merger will create one of India's top three hospital chains.

Aster DM Healthcares shares experienced a significant surge, climbing up to 5% intraday, following the announcement of a definitive agreement to merge with Blackstone-backed Quality Care India Limited

The merger between Aster DM Healthcare and QCIL, valued at $5.08 billion, forms Aster DM Quality Care, the third-largest hospital chain in India. The entity will operate 38 hospitals with plans to increase bed capacity significantly over the next two years.

In the merged entity, Aster promoters and Blackstone will hold 24% and 30.7% stakes, respectively, while the balance 45.3% will be owned by other shareholders.

Based on the swap ratio recommended in the valuation report, the Aster promoters will hold 24 per cent and Blackstone 30.7 per cent in the merged entity