The deal effectively creates a Top 3 hospital chain in India. Mint first reported plans for the merger in August 2024.
The two companies have merged via a share-swap ratio of 977 shares of Aster for every 1,000 shares of QCIL. Aster shareholders will hold 57.3% and QCIL shareholders 42.7% in the merged entity, Aster DM Quality Care, which will be a listed company.
"The whole idea has been about building the biggest platform, and how do we become the best healthcare provider in India," Alisha Moopen, managing director of Aster DM Healthcare, said.
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