Malabar Institute of Medical Sciences (MIMS), a material subsidiary of Aster DM Healthcare, has agreed to buy 99.99% of Cantown Infra Developers LLP on January 14, 2023. The acquisition cost Rs 15.22 crore.
Cantown Infra Developers LLP owns land adjacent to Aster MIMS Kannur’s boundary; the entity has no revenue in FY21-22 other than rent from letting the land out for car parking to Aster MIMS Kannur.
The maximum capacity of Aster MIMS Kannur has been reached. Given the enormous potential and possibilities, it is proposed to expand the capacity of Aster MIMS Kannur, which will necessitate the acquisition of Cantown Infra Developers LLP.