Dr Agarwal’s Healthcare IPO: Here’s what GMP signals ahead of issue opening on Wednesday, January 29 | Stock Market News

Dr Agarwal’s Healthcare IPO is scheduled to open on Wednesday, January 29, and close on Friday, January 31. The details on allocation to anchor investors for Dr Agarwal Healthcare IPO will be out Tuesday, January 28. Dr Agarwal Healthcare IPO price band has been fixed in the range of ₹382 to 402 per equity share of face value of Re 1.

Founded in 2010, Dr. Agarwal’s Health Care Limited provides a wide array of eye care services, such as cataract and refractive surgeries, consultations, diagnoses, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and pharmaceutical items related to eye care.

The firm classifies its facilities into three categories: primary facilities (non-surgical eye care), secondary facilities (surgical services), and tertiary facilities (super-specialty surgical services, which include three centers of excellence, depending on the specific services offered). The company operates using a “hub and spoke” model, which allows them to create a scalable and accessible platform for their ongoing business growth. As of September 30, 2024, the company’s network in India consists of 28 “hubs.”

According to the red herring prospectus (RHP), the company’s listed peers include Apollo Hospitals Enterprise (showing a P/E of 107.11), Max Healthcare Institute (with a P/E of 95.88), Fortis Healthcare (reporting a P/E of 82.11), Global Health (indicating a P/E of 57.49), Narayana Hrudayalaya (featuring a P/E of 33.14), Krishna Institute of Medical Sciences (with a P/E of 79.79), Aster DM Healthcare (having a P/E of 136.07), and Rainbow Children’s Medicare (registering a P/E of 67.90).

The basis for allotting shares for Dr Agarwal’s Healthcare IPO is expected to be determined on Monday, February 3. The company plans to start processing refunds on Tuesday, February 4, and the shares will be credited to the demat accounts of allottees on the same day after the refunds are made. The share price of Dr Agarwal’s Healthcare is anticipated to be listed on the BSE and NSE on Wednesday, February 5.

Dr Agarwal Healthcare IPO GMP today

Dr Agarwal Healthcare IPO GMP today is +32. This indicates Dr Agarwal Healthcare share price was trading at a premium of ₹32 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 Healthcare share price is indicated at ₹434 apiece, which is 7.96% higher than the IPO price of ₹402.

Considering the grey market trends from the past four sessions, the present GMP ( ₹32) indicates a tendency towards a decline. The minimum GMP recorded is ₹30, with the maximum reaching ₹54, as per the insights from investorgain.com experts.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Dr Agarwal Healthcare IPO details

Dr Agarwal’s Healthcare IPO includes a new equity share issuance worth ₹300 crore, along with an offer-for-sale of 6.78 crore shares totaling ₹2,727.3 crore from existing shareholders.

Besides the promoters, the stakeholders involved in the offer-for-sale are Arvon Investments Pte and Claymore Investments Mauritius Pte, both of which are affiliated with the private equity firm Temasek Holdings, along with Hyperion Investments Pte, which is connected to the US private equity firm TPG.

Public shareholders, including Arvon Investments Pte (holding a 12.44% stake), Claymore Investments Mauritius Pte (with a 15.71% stake), and Hyperion Investments Pte (which owns a 33.70% stake), possess the remaining shares of the company, while the promoters control 37.73%.

From the net proceeds of the new offering, the company aims to allocate ₹195 crore towards debt repayment. The remaining funds will also be directed towards unannounced inorganic acquisitions and general business requirements.

The main book-running lead managers for Dr Agarwal’s IPO are Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd, Jefferies India Private Limited, and Motilal Oswal Investment Advisors Limited. Kfin Technologies Limited serves as the registrar for the issue.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.