Dr Agarwal’s Health Care IPO subscribed 7 pc on Day 1 of offer
Source: Live Mint
New Delhi, Jan 29 (PTI) The initial public offer of Temasek Holdings and TPG-backed Dr Agarwal’s Health Care Ltd, an eye care services provider, received 7 per cent subscription on the first day of bidding on Wednesday.
The public issue got bids for 38,08,980 shares against 5,35,26,172 shares on offer, as per NSE data.
The portion for Retail Individual Investors (RIIs) fetched 11 per cent subscription while the category for non-institutional investors received 6 per cent subscription.
Dr Agarwal’s Health Care on Tuesday said it has raised over ₹875.5 crore from anchor investors.
The ₹3,027.26-crore public issue, with a price band of ₹382 to ₹402 per share, will conclude on January 31.
The IPO is a combination of a fresh issue of up to ₹300 crore and an Offer For Sale (OFS) of up to 6.78 crore equity shares worth ₹2,727.26 crore by promoters and other selling shareholders at the upper end of the price band.
Those selling shares in the OFS include Arvon Investments Pte Ltd, Claymore Investments (Mauritius) Pte Ltd, and Hyperion Investments Pte Ltd.
Proceeds from the fresh issue to the tune of ₹195 crore will be used for payment of debt. Besides, a portion will be used for general corporate purposes and unidentified inorganic acquisitions.
Dr Agarwal’s Health Care offers a wide array of services, including cataract, refractive, and other surgeries, consultations, diagnosis, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and eye care-related pharmaceutical items.
As of September 2024, its network consisted of 193 facilities with a majority concentration in South India, particularly Chennai, Hyderabad and Bengaluru, followed by Western India.
Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.
