Aster DM Healthcare Limited conducted a meeting of unsecured trade creditors on March 10, 2026, as part of the regulatory process for its proposed scheme of amalgamation with Quality Care India Limited. The meeting was held pursuant to directions from the Hon'ble National Company Law Tribunal (NCLT), Hyderabad bench, and marks a significant step in the corporate restructuring process.

Meeting Details and Participation

The creditors meeting was conducted through Video Conferencing (VC) and Other Audio Visual Means (OAVM) at 02:00 P.M. IST on Tuesday, March 10, 2026. The virtual format ensured compliance with applicable provisions while maintaining accessibility for stakeholders.

Scheme of Amalgamation Framework

The meeting focused on the proposed scheme of amalgamation between Quality Care India Limited (Transferor Company) and Aster DM Healthcare Limited (Transferee Company), along with their respective shareholders and creditors. The scheme was presented for consideration and approval by the unsecured trade creditors as mandated by the NCLT order dated January 21, 2026.

Mr. Sunil Kumar M R, Chief Financial Officer, addressed the creditors on the salient features of the proposed scheme. The presentation was followed by an interactive session where registered speakers among the unsecured trade creditors sought clarifications through VC/OAVM. The company's management team provided comprehensive responses to all queries raised during the session.

Voting Process and Procedures

The company implemented a comprehensive electronic voting system to ensure transparent and efficient decision-making. The voting process included two components designed to maximize participation among stakeholders.

Mr. Hemish Purushottam, Company Secretary and Compliance Officer, provided detailed instructions on the voting procedure and other meeting-related guidelines. The electronic voting was conducted under the supervision of the NCLT-appointed scrutinizer to ensure compliance with the Companies Act, 2013 and SEBI Listing Regulations.

Regulatory Compliance and Documentation

The meeting proceedings were conducted in strict compliance with applicable provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. All requisite documentation, including the Notice of Meeting, Explanatory Statement, and the proposed scheme, had been circulated to creditors prior to the meeting.

The company confirmed that voting results, along with the consolidated report from the scrutinizer, would be disseminated to stock exchanges where the company's equity shares are listed. Additionally, the results will be made available on the company's website and National Securities Depository Limited (NSDL) website within prescribed timelines, ensuring transparency and regulatory compliance throughout the process.

Aster DM Healthcare Limited has announced a shareholder meeting scheduled for March 10, 2026, to approve its proposed scheme of amalgamation with Quality Care India Limited. The meeting represents a crucial step in what the company describes as the largest transaction in India's hospital sector, with strong shareholder support backing the strategic merger.

Meeting Details and Voting Process

The equity shareholders meeting will be conducted through video conferencing and other audio-visual means, providing accessibility for all stakeholders.

Strategic Merger Overview

The proposed amalgamation aims to create one of India's top 3 hospital chains, with the company highlighting strong shareholder support. The merger has already received approval from an overwhelming majority of 99.998% of shareholders for the share swap arrangement preceding the merger.

The combined entity is positioned to establish a comprehensive healthcare platform with significant operational scale:

Financial and Operational Benefits

The merger is expected to deliver substantial synergies and operational improvements. The company has identified synergies with an EBITDA upside potential of 10-15%, computed as a percentage of pro-forma EBITDA of the merged entity.

Key strategic advantages include stronger financial, operational and return metrics, significant opportunities for both brownfield and greenfield expansion, multiple synergies to accelerate growth and improve margins, and enhanced clinical excellence capabilities.

Governance Framework

The company has addressed stakeholder concerns regarding governance through a comprehensive framework. Both Aster Promoters and Blackstone have committed to specific governance measures, including waiving director nomination rights when their shareholding falls to 10%. The governance structure includes board committee composition determined in accordance with applicable law, mandatory independent director representation on all committees, and robust check-and-balance mechanisms for committee decisions.

Regulatory Compliance

The meeting notice has been issued under Regulation 30 and other applicable provisions of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The scheme of amalgamation is being pursued under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The company emphasizes that the proposed merger aligns with long-term shareholder interests, combining a strong business case with reasonable valuation and governance rights designed to ensure continued stakeholder alignment.