Dr Agarwal’s Health Care IPO: Retail subscription 6% on day 1, check GMP

New Delhi: Temasek Holdings and TPG-backed Dr Agarwal's Health Care, an eye care services provider's retail portion was subscribed 6% as of 05:00 pm on the first day of bidding, as per BSE data.

Founded in 2010, the company also offers optical products, accessories and eye care-related pharmaceuticals. Dr Agarwal Health Care IPO opens for subscription on January 29, 2025, and closes on January 31, 2025.

Dr Agarwal’s Health Care IPO details

Dr Agarwal’s Health Care IPO opened for subscription on January 29, 2025, and will close on January 31, 2025. The offering includes a fresh issue of shares worth ₹300 crore and an offer for sale (OFS) of existing shares worth ₹2,727.26 crore. The price band is set at ₹382 to ₹402 per share.

Dr Agarwal’s Health Care IPO Day 1 subscription data

The IPO has so far seen a muted response on the first day of bidding. The IPO received bids for 20,80,365 lakh shares, as against the offer of 5,35,26,172 shares, according to data available on BSE at 05:00 pm.

The portion reserved for retail investors was subscribed to only 6 per cent, while that kept for Non-institutional investors was booked for only 3 per cent. Qualified Institutional Buyers are yet to make any substantial bid.

Dr Agarwal’s Health Care IPO GMP

As per the latest trends, the latest GMP for Dr Agarwal’s Health Care IPO stands at Rs 7, indicating a 1.74% premium to the upper price band. As per the latest GMP trends, the estimated listing price is projected to be Rs 409.

The grey market is an unofficial place to trade shares ahead of listing. Market participants keep a watch on GMP to track listing gains.

Dr Agarwal’s Health Care IPO objectives

Proceeds from the fresh issue to the tune of Rs 195 crore will be used for payment of debt, and besides, a portion will be used for general corporate purposes and unidentified inorganic acquisitions.

Dr Agarwal’s Health Care IPO allotment and listing

The shares are expected to be allotted by February 3 and will be listed on the BSE and NSE on February 5, 2025. The IPO is managed by Kotak Mahindra Capital, Morgan Stanley India, Jefferies India, and Motilal Oswal Investment Advisors, with Kfin Technologies as the registrar.

About Dr Agarwal’s Health Care IPO

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, its network consisted of 193 facilities with a majority concentration in South India, particularly Chennai, Hyderabad and Bengaluru, followed by Western India.

On the financial front, Dr Agarwal's Health Care revenue from operations was Rs 1,332.15 crore in the fiscal 2024 and profit after tax stood at Rs 95.05 crore.