Dr Agarwal’s Healthcare IPO Day 2 Live Updates: Issue booked 7% so far
Source: Live Mint
Dr Agarwal’s Healthcare IPO Day 2 Live Updates: The initial public offering of Dr Agarwal’s Healthcare Ltd, an eye care service provider supported by Temasek Holdings and TPG, recorded a 7 percent subscription rate on the first day of bidding on Wednesday.
The retail investor segment experienced an 11% subscription, while the non-institutional investor quota saw a 6% subscription. The portion allocated for qualified institutional buyers (QIBs) is still available for subscription. The employee allocation was subscribed at a rate of 9%, and the segment set aside for shareholders was booked at 14%. On Tuesday, Dr Agarwal Healthcare IPO announced it garnered over ₹875.5 crore from anchor investors.The ₹3,027.26-crore Dr Agarwal IPO, with a price band of ₹382 to ₹402 per share, will conclude on January 31.
Dr Agarwal Healthcare IPO consists of a new issue of up to ₹300 crore along with an Offer For Sale (OFS) of up to 6.78 crore equity shares valued at ₹2,727.26 crore if priced at the highest point of the price range. Shareholders participating in the OFS include Arvon Investments Pte Ltd, Claymore Investments (Mauritius) Pte Ltd, and Hyperion Investments Pte Ltd. The funds raised from the new issue, approximately ₹195 crore, will be allocated for debt repayment. Additionally, a portion of the funds will be directed towards general corporate needs and unspecified 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, the network included 193 facilities, primarily located in South India, especially in Chennai, Hyderabad, and Bengaluru, with a significant presence also in Western India.
Dr Agarwal’s Healthcare IPO Day 2 Live Updates: Key things to know about the issue
Dr Agarwal’s Healthcare IPO Day 2 Live Updates: All you need to know about anchor investors
Prior to its initial offering to the public (IPO), Dr. Agarwal’s Health Care received more than ₹875.5 crore from anchor investors.
According to a circular posted on the BSE website, the anchor investors include the Government of Singapore, Monetary Authority of Singapore, Goldman Sachs, Morgan Stanley, Government Pension Fund Global (Norway), Fidelity, Nomura, Invesco Mutual Fund (MF), Motilal Oswal MF, Canara Robeco MF, and Tata MF.
The company issued 2.17 crore equity shares to 43 funds at the upper end of the pricing range, ₹402 per share, in accordance with the circular.
Dr Agarwal’s Healthcare IPO Day 2 Live Updates: Key dates to know
Tentatively, Dr Agarwal’s Healthcare IPO basis of allotment of shares will be finalised on Monday, February 3, and the company will initiate refunds on Tuesday, February 4, while the shares will be credited to the demat account of allottees on the same day following refund. Dr Agarwal’s Healthcare share price is likely to be listed on BSE and NSE on Wednesday, February 5.
Dr Agarwal’s Healthcare IPO Day 2 Live Updates: IPO reservation
Dr Agarwal IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The employee portion has been reserved up to 1,579,399 equity shares, and the shareholders have been reserved up to 1,129,574.
Dr Agarwal’s Healthcare IPO Day 2 Live Updates: Here’s what GMP signal ahead of second bidding day
Dr Agarwal’s IPO GMP today is +5. This indicates Dr Agarwal’s Healthcare share price was trading at a premium of ₹5 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Dr Agarwal’s Healthcare share price is indicated at ₹407 apiece, which is 1.24% higher than the IPO price of ₹402.
Today’s IPO GMP is pointing lower and is predicted to decline further based on grey market activity over the last 7 sessions. According to experts on investorgain.com, the lowest GMP is ₹5, and the highest is ₹54.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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