Pic: Dr. Amar Agarwal, Chairperson and Non-Executive Director, Dr. Agarwal’s Healthcare Limited the comopany’s IPO roadshow in Mumbai
The only large-scale issue that has braved the volatile weather in January 2025 and has sailed through successfully
MUMBAI, Jan 31 (The CONNECT) – The Rs 3,000 crore Initial Public Offering of Dr. Agarwal’s Health Care was subscribed 1.55 times on the final day of bidding amid volatile stock market conditions..
The issue received bids of 8,29,77,370 shares against the offered 5,35,26,172 equity shares, at a price band of ₹382-402, according to the data available on the stock exchanges.
Non-Institutional Investors Portion and Retail Portion were subscribed 0.39 times and 0.41 times respectively, whereas Qualified Institutional Buyer Portion was subscribed 4.64 times. Employee Reservation Portion was subscribed 0.27 times and Reservation for Shareholders Portion was subscribed 0.51 times.
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Jefferies India Private Limited, Motilal Oswal Investment Advisors Limited are the book-running lead managers, and KFin Technologies Limited is the registrar of the issue.
Company Information
Dr. Agarwal’s Health Care, provides end-to-end comprehensive eye care services, including cataract, refractive and other surgeries; consultations, diagnoses and non-surgical treatments; and sells opticals, contact lenses and accessories, and eye care related pharmaceutical products through its network of 209 Facilities as of September 30, 2024. According to a CRISIL MI&A Report cited in its red herring prospectus, the company held about 25% of the total eye care service chain market in India as of FY2024.
As of September 30, 2024, the Company operates 193 facilities in India across 117 metro and non-metro cities spanning 14 states and four union territories, along with 16 facilities spread across nine countries in Africa. The Company operates through a hub-and-spoke and asset light operating model. According to the CRISIL MI&A Report, the Company has a diversified presence, with 70 facilities located in Tier-I cities and 123 facilities in other cities across India.
Dr. Agarwal’s Health Care, under the aegis of its Chairman, Dr. Amar Agarwal, who has over 35 years of clinical experience in the eye care services industry, has pioneered multiple surgical innovations in ophthalmology and has published several papers in reputed scientific journals globally. Some key surgical capabilities of Dr. Agarwal’s Health Care includes intraocular lens procedures, cornea transplantation, pinhole pupilloplasty, single pass four-throw pupilloplasty and LASIK surgeries.
