Aster DM Healthcare Ltd has received approval from the Competition Commission of India (CCI) for its proposed share swap and merger with Quality Care India Limited (QCIL), the company announced in a regulatory filing on Tuesday.

The approval pertains to two key transactions that were previously approved by the company’s Board of Directors on November 29, 2024, subject to necessary shareholder and regulatory approvals.

As part of the deal, Aster DM Healthcare will acquire 1,90,46,028 equity shares of QCIL—currently held by BCP Asia II TopCo IV Pte. Ltd. and Centella Mauritius Holdings Limited—through a non-cash share swap. In exchange, Aster will issue and allot 1,86,07,969 equity shares of the company on a preferential basis to the QCIL shareholders.

Additionally, the transaction includes a scheme of amalgamation under Sections 230 to 232 of the Companies Act, 2013, under which QCIL will be merged into Aster DM Healthcare as a going concern. In return, QCIL shareholders (excluding Aster) will receive equity shares of Aster as per the agreed share exchange ratio.

The company confirmed that the CCI granted its formal approval for the proposed transactions through a letter dated April 15, 2025.