Daily Brief India: Aster DM Healthcare Ltd, Gland Pharma Ltd, P N Gadgil Jewellers and more

In today’s briefing:

Aster DM Healthcare’s Special Dividend & Restructuring
Gland Pharma Ltd (GLAND IN): Business Recovery Seems To Be Overlooked by Mr. Market
P N Gadgil Jewellers Pre-IPO Tearsheet

Aster DM Healthcare’s Special Dividend & Restructuring

Aster DM Healthcare Ltd (ASTERDM IN) completes a significant restructuring, separating its India and GCC operations, with a consortium led by Fajr Capital acquiring a 65% stake in Aster GCC.
The substantial cash consideration received provides financial flexibility for further investments, debt reduction, or strategic opportunities.
Explore the implications of Aster’s restructuring on shareholder value, with a special dividend of INR 110 to INR 120 per share planned.

Gland Pharma Ltd (GLAND IN) reported mid-single-digit revenue and EPS growth in its base business (ex-Cenexi) during 9M FY24. The company is confident to end FY24 on a high note.
Gland Pharma starts FY25 on a strong note with gaining U.S. approval for eribulin mesylate injection, used for breast cancer that has spread to other parts of the body.
Over the next 12–15 months, Gland Pharma is poised for enhanced geographical foot-print in Europe through Cenexi. The addressable CDMO business opportunity is estimated at €4B.

P N Gadgil Jewellers (1742652D IN) is looking to raise up to US$132m in its upcoming India IPO. The deal will be run by Motilal Oswal, Nuvama and BOB Capital.
P N Gadgil Jewellers (PNGJ from hereon) is an Indian organized jewellery player. According to Technopak, it is the second largest among prominent organized jewellery players in Maharashtra.
Its product offerings include traditional jewellery for special occasions such as weddings, engagements and festivities and modern and jewellery designs for everyday wear purpose, in gold, diamond, silver and platinum.

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