Dr. Agarwal’s Healthcare IPO sees 85% subscription on its last day, with QIB portion fully booked. The company aims to raise ₹3,027.26 crore for debt repayment and expansion.
Dr. Agarwal’s Healthcare Ltd, a leading eye care service provider based in Chennai, India, has seen strong demand for its initial public offering (IPO) as it enters the final day of subscription. The company, supported by prominent investors such as Temasek Holdings and TPG, offers a wide range of eye care services, including cataract and refractive surgeries, consultations, and the sale of optical products. With over 190 facilities, the company has established a significant presence across South and Western India.
The IPO, which opened for subscription on January 29, 2025, and will close today, January 31, 2025, has already been subscribed 85%, with the Qualified Institutional Buyers (QIB) portion fully booked. The price band for the IPO has been set at ₹382 to ₹402 per share. Dr. Agarwal’s Healthcare aims to raise ₹3,027.26 crore from the public issue, which includes a new issue of ₹300 crore and an offer-for-sale (OFS) of ₹2,727.26 crore. The company has already raised over ₹875.5 crore from anchor investors.
The funds raised through the new issue will primarily be used to repay ₹195 crore of outstanding debt. Additional funds will be allocated for general corporate purposes and possible acquisitions.
Dr. Agarwal’s Healthcare offers an extensive range of eye care services across India, particularly focusing on regions such as Chennai, Hyderabad, and Bengaluru. The company’s IPO marks an important step in expanding its reach and enhancing its capabilities in the competitive eye care market.
