Dr Agarwal's Health Care IPO subscribed only 7% on Day 1, GMP dips

New Delhi: The initial public offer of Temasek Holdings and TPG-backed Dr Agarwal's Health Care Ltd, an eye care services provider, received 7 per cent subscription on the first day of bidding on Wednesday.

Dr Agarwal’s Health Care IPO subscription on day 1

The public issue got bids for 38,08,980 shares against 5,35,26,172 shares on offer, as per NSE data.

The portion for Retail Individual Investors (RIIs) fetched 11 per cent subscription while the category for non-institutional investors received 6 per cent subscription.

Dr Agarwal's Health Care on Tuesday said it has raised over Rs 875.5 crore from anchor investors.

The Rs 3,027.26-crore public issue, with a price band of Rs 382 to Rs 402 per share, will conclude on January 31.

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 offer

The IPO is a combination of a fresh issue of up to Rs 300 crore and an Offer For Sale (OFS) of up to 6.78 crore equity shares worth Rs 2,727.26 crore by promoters and other selling shareholders at the upper end of the price band.

Those selling shares in the OFS include Arvon Investments Pte Ltd, Claymore Investments (Mauritius) Pte Ltd, and Hyperion Investments Pte Ltd.

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. Besides, a portion will be used for general corporate purposes and unidentified inorganic acquisitions.

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.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India, and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.