Dr Agarwal's Healthcare IPO price band: The Dr. Agarwal's Health Care Limited IPO price band has been fixed in the range of ₹382 to ₹402 per equity share of the face value of Re 1. The Dr Agarwal's Healthcare IPO date of subscription is scheduled for Wednesday, January 29, and will close on Friday, January 31. The allocation to anchor investors for the Dr Agarwal's Healthcare IPO is scheduled to take place on Tuesday, January 28.
The floor price and the cap price are 382 times and 402 time the face value of the equity shares. The price/earnings ratio based on diluted EPS for FY 2024 for the company at the upper end of the price band is 128.43 times. The Dr Agarwal's Healthcare IPO lot size is 35 equity shares and in multiples of 35 equity shares thereafter.
Dr Agarwal's Healthcare 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.
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.
Founded in 2010, Dr. Agarwal's Health Care Limited delivers a wide array of eye care services, which encompass cataract and refractive surgeries, consultations, diagnoses, non-surgical treatments, as well as the retailing of optical products, contact lenses, accessories, and pharmaceuticals related to eye care. As of September 30, 2024, the organization had 737 doctors offering care to patients at its facilities. The services offered by the company include cataract surgeries, refractive surgeries, and other types of surgeries.
As per the red herring prospectus (RHP), the firm's listed peers are Apollo Hospitals Enterprise (with a P/E of 107.11), Max Healthcare Institute (with a P/E of 95.88), Fortis Healthcare (with a P/E of 82.11), Global Health (with a P/E of 57.49), Narayana Hrudayalaya (with a P/E of 33.14), Krishna Institute of Medical Sciences (with a P/E of 79.79), Aster DM Healthcare (with a P/E of 136.07), and Rainbow Children's Medicare (with a P/E of 67.90).
Dr Agarwal’s Healthcare IPO consists of a fresh equity share issuance valued at ₹300 crore, along with an offer-for-sale of 6.78 crore shares amounting to ₹2,727.3 crore from the current shareholders.
In addition to the promoters, the selling shareholders in the offer-for-sale include Arvon Investments Pte and Claymore Investments Mauritius Pte, both of which are owned by the private equity firm Temasek Holdings, as well as Hyperion Investments Pte, which is owned by the US private equity firm TPG.
Public shareholders, such as Arvon Investments Pte (12.44% stake), Claymore Investments Mauritius Pte (15.71%), and Hyperion Investments Pte (33.70% stake), own the remaining shares of the company, with the promoters owning 37.73%.
Out of the net proceeds from the new offering, the company plans to use ₹195 crore to pay off its debt. The remaining money will also be utilised for unspecified inorganic acquisitions and basic business needs.
The book running lead managers of 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. The issue's registrar is Kfin Technologies Limited.
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