Dr Agarwal's Health Care IPO: Check key dates, price band, latest GMP & more

The initial public offering (IPO) of Dr Agarwal's Health Care shall open for bidding on Wednesday, January 29. The healthcare service provider shall be selling its shares in the range of Rs 382-402 apiece. Investors can apply for a minimum of 35 equity shares and its multiples thereafter. The issue will close for bidding on Friday, January 31.

Incorporated in 2010, Chennai-based Dr Agarwal's Health Care offers a comprehensive range of eye care services, including cataract and refractive surgeries, consultations, diagnoses, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and eye care-related pharmaceutical items.

The IPO of Dr Agarwal's Health Care includes a fresh share sale of Rs 300 crore, while an offer-for-sale (OFS) of up to 6,78,42,284 equity shares worth Rs 2,727.26 crore by its promoters and existing shareholders. At the upper end of the price band, the company is likely to raise a total of Rs 3,027.26 crore via IPO.

The net proceeds from the issue shall be utilizted towards repayment/prepayment, in part or full, of certain of the borrowings; general corporate purposes; and unidentified inorganic acquisition. The anchor book for the issue shall open on Tuesday, January 28. Last heard, the company commanded a grey market premium of Rs 164 apiece, suggesting a 41 per cent gains for investors.

There were 737 doctors providing care to patients across the company's facilities, as of September 30, 2024. During this period, the company served 2.13 million patients and performed 220,523 surgeries. In the six months leading up to September 30, 2024, they served 1.15 million patients and conducted 140,787 surgeries.

Dr Agarwal's Health Care reported a net profit of Rs 39.56 crore with a revenue of Rs 837.94 crore for the six months ended on September 30, 2024. The company clocked a net profit of Rs 95.05 crore with a revenue of Rs 1,376.45 crore for the financial year 2023-24. Dr Agarwals Healthcare commands a total market capitalization of Rs 12,698.37 crore.

The company has reserved 15,79,399 shares worth Rs 63.49 crore for the eligible employees of the company, while 11,29,574 shares have been reserved for the shareholders of Dr Agarwals Eye Hospital Ltd. Of the net offer, 50 per cent shares are reserved for qualified institutional bidders (QIBs), while non institutional and retail bidders will get 15 per cent and 35 per cent allocation, respectively.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India, Motilal Oswal Investment Advisors are the book running lead managers of the Dr Agarwal's IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE likely on February 5, Wednesday.