Dr Agarwal's Health Care shares make muted market debut; end flat

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New Delhi, Feb 4 (PTI) Shares of Dr Agarwal's Health Care Ltd made a muted market debut on Tuesday and ended flat against the issue price of Rs 402.

The stock listed at Rs 396.90, down 1.26 per cent from the issue price on the BSE. During the day, it tumbled 7.93 per cent to Rs 370.10. The stock ended at Rs 401.55 per piece, a decline of 0.11 per cent.

On the NSE, the stock listed at par with the issue price of Rs 402. Intra-day, it tanked 7.91 per cent to Rs 370.20. Shares of the firm finally ended at Rs 401.65 each, lower by 0.08 per cent.

The company's market valuation stood at Rs 12,684.16 crore.

In volume terms, 12.35 lakh shares of the firm were traded on the BSE and 156.36 lakh shares exchanged hands on the NSE during the day.

The initial public offer of Dr Agarwal's Health Care Ltd got subscribed 1.55 times on the closing day of bidding on Friday.

The Rs 3,027.26-crore public issue had a price band of Rs 382-402 per share.

The IPO had 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.

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

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. PTI SUM SUM SHW