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
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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): Business Recovery Seems To Be Overlooked by Mr. Market
- 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 Pre-IPO Tearsheet
- 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.