Dr. Agarwal’s Health Care IPO Opens on January 29, Eyes ₹3,027.26 Crore Fundraise
Pioneering Ophthalmology Giant Plans Expansion, Strengthening Its 209-Facility Network Across India
IPO to Include ₹300 Crore Fresh Issue and Offer for Sale of 67.84 Million Shares by Promoters & Investors
Dr Agarwal’s Healthcare is launching an IPO worth ₹3,027.26 crore. The issue consists of a fresh issue of 0.75 crore shares totaling ₹300 crore and an offer for sale of 6.78 crore shares amounting to ₹2,727.26 crore. The IPO will open for subscription on January 29, 2025, and close on January 31, 2025
BILKULONLINE
Ahmedabad, Jan 27: Dr. Agarwal’s Health Care, a leading name in the eye care services industry, is set to launch its Initial Public Offering (IPO) on January 29, 2024. The mainline IPO aims to raise ₹3,027.26 crore, with a price band fixed at ₹382 to ₹402 per share. Investors can bid in a lot size of 35 shares.
Legacy of Excellence in Eye Care
Founded by Dr. Jaiveer Agarwal and Dr. Tahira Agarwal, Dr. Agarwal’s Eye Hospital has grown into a premier chain with over 180 centres in India and 15 centres overseas. Under the leadership of Chairman Dr. Amar Agarwal, a pioneer in ophthalmology with over 35 years of experience, the hospital has introduced groundbreaking surgical innovations such as intraocular lens procedures, cornea transplantation, pinhole pupilloplasty, single pass four-throw pupilloplasty, and LASIK surgeries.
The company offers a comprehensive range of eye care services, including cataract and refractive surgeries, consultations, diagnoses, non-surgical treatments, and the sale of opticals, contact lenses, and pharmaceutical products.
As of September 30, 2024, Dr. Agarwal’s Health Care operates 209 facilities, including 26 hubs for tertiary care and 139 spokes for primary and secondary facilities.
Strong Financial Performance & Market Presence
Speaking at a media event in Ahmedabad, CEO Dr. Adil Agarwal highlighted the company’s impressive financial growth, with revenue from operations reaching ₹319.30 crore in FY24, marking a 19% increase from FY23. Profit after tax (PAT) rose by 25% to ₹46.36 crore.
According to a CRISIL MI&A Report, the company holds approximately 25% market share in India’s eye care service chain sector as of FY2024.
IPO Details & Utilization of Funds
The IPO consists of a fresh issue of ₹300 crore and an offer for sale of up to 67,842,284 equity shares by promoters, investors, and other selling shareholders. Of the fresh issuance, ₹195 crore will be used for debt repayment, while the remaining funds will support corporate expansion and inorganic acquisitions.
Book-Running Lead Managers & Registrar
The IPO is managed by Kotak Mahindra Capital Company, Morgan Stanley India, Jefferies India, and Motilal Oswal Investment Advisors, with KFin Technologies Limited serving as the registrar.
Leadership Insights & R&D Focus
During the Ahmedabad event, Chairman Dr. Amar Agarwal and CEO Dr. Adil Agarwal interacted with the media, outlining the company’s vision and future growth plans. CFO Yashwanth Venkat presented key financial details, while Chief Clinical Officer Dr. Ashvin Agarwal discussed the company’s ongoing research and development (R&D) efforts, with an investment exceeding ₹1 crore this year.
With a rich legacy, a strong financial foundation, and ambitious expansion plans, Dr. Agarwal’s Health Care IPO is poised to attract significant investor interest, solidifying its position as a leader in India’s eye care sector.
Disclaimer: Readers are advised to carefully study the IPO prospectus and consult their financial advisors before making any investment decisions.
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