Dr. Agarwal’s Health Care Ltd. shares were listed on the BSE at Rs 396.9 per share, a discount of 1.2% to the issue price of Rs 402 apiece. The shares debuted flat on the National Stock Exchange at Rs 402 per share.
The Rs 3,027.3-crore IPO was subscribed 1.49% on the final day of bidding, led by qualified institutions. The portions for non-institutional buyers, retail investors and employees did not receive full subscriptions.
The IPO consisted of a fresh issue of shares worth Rs 300 crore and an offer-for-sale component of Rs 2,727.3 crore, according to the red herring prospectus.
The company will utilise Rs 195 crore of the proceeds for the repayment or prepayment of borrowings, with the remaining funds allocated for general corporate purposes and potential inorganic acquisitions.
Kotak Mahindra Capital Co., Morgan Stanley India Co., Jefferies India Pvt. and Motilal Oswal Investment Advisors were the book-running lead managers to the issue and KFin Technologies Ltd. was the registrar to the offer.
The OFS by promoters consisted of sale of 21.8 lakh equity shares by Amar Agarwal, up to 26.3 lakh shares by Athiya Agarwal, up to 30.7 lakh shares by Adil Agarwal, up to 36.1 lakh shares by Anosh Agarwal and up to 24.1 lakh shares by Ashvin Agarwal. Dr. Agarwal’s Eye Institute, also a promoter, offloaded 18.8 lakh shares.
Dr. Agarwal’s Health Care offers a wide range of comprehensive eye care services, including cataract surgeries, refractive surgeries and other specialised treatments. Their services also encompass consultations, diagnoses, non-surgical treatments, and the sale of optical products, contact lenses, accessories and eye care-related pharmaceutical products.
The company held approximate 25% market share of the total eye care service chain market in India during the last fiscal, according to a Crisil MI&A Report. As of Sept. 30, 2024, the company operated a network of 209 facilities across India.
. Read more on Markets by NDTV Profit.The Rs 3,027.3-crore IPO was subscribed 1.49% on the final day of bidding, led by qualified institutions. Read MoreMarkets, IPOs, Business, Notifications
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