Diagnostic service provider, Agilus Diagnostics, formerly known as SRL, filed its draft red herring prospectus (DRHP) with SEBI to raise funds through its initial public offering (IPO).
The company's public issues is an offer for sale (OFS) of 1.42 crore equity shares by International Finance Corp, NYLIM Jacob Balls India Fund III LLC, and Resurgence PE Investments Ltd, according to the draft red herring prospectus (DRHP) filed on Saturday.
As the IPO is entirely an OFS, the entire proceeds will go tot the existing shareholders. Agilus Diagnostics is one of the largest diagnostics service provider in terms of laboratories. It ranks second in the industry in terms of revenue generation from its India operations, according to the Crisil report of FY 22-23.
As of March 31, 2023, the company manages a network of 413 laboratories out of which 43 labs were accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL).
The company enjoys international presence in the Middle East, Sub-Saharan Africa, the Commonwealth of Independent States, adn the South Asian Association for Regional Cooperation (SAARC) region.
In FY 2023, Agilus performed 3.9 crore tests and catered to the needs of 1.66 crore patients in India, as per the details provided in DRHP. ICICI Securities, Axis Capital, and Citigroup Global Markets India are the book-running lead managers to the issue.
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