Dr Agarwal’s Health Care IPO received 1.55 times subscription by day 3, with bids for 8.29 crore shares. The issue raised ₹3,027.26 crore, and shares will be listed on 5th February.
Dr Agarwal’s Health Care IPO, which raised ₹3,027.26 crore, saw a 1.55 times subscription by the third day of the public offer. The issue received bids for 8.29 crore shares against 5.35 crore shares on offer, with Qualified Institutional Buyers (QIBs) leading with 4.64 times subscription. However, Retail Individual Investors (RIIs) and non-institutional investors subscribed at a slower pace, with 41% and 39% subscription, respectively.
The IPO has a price band of ₹382 to ₹402 per share, and Dr Agarwal’s Health Care raised over ₹875.5 crore from anchor investors prior to the public offering. Despite moderate demand, market observers have noted a flat grey market premium (GMP) for the shares, signaling cautious investor sentiment.
Proceeds from the fresh issue, totaling ₹195 crore, will primarily be used to repay debt, with additional funds allocated for general corporate purposes and potential acquisitions. As of September 2024, Dr Agarwal’s Health Care operated 193 facilities, mainly in South India, with a growing presence in Western India.
The shares are expected to be listed on the exchanges on 5th February, with the allotment process taking place on 3rd February.
