Dr Agarwal Healthcare IPO: Check Latest GMP, Subscription Status

The Initial Public Offer of Dr Agarwal’s Health Care IPO continues to witness tepid response on day two of bidding. The IPO fetched bids for 2,25,71,920 shares as compared to the offer of 5,35,26,172 shares, according to data accessed from National Stock Exchange (NSE). The issue was opened on Wednesday and will conclude on January 31, 2025. Investors will remain eligible to place their bids for minimum lot of 35 shares. The price band for the IPO has been fixed in the range of Rs 382- Rs 402 apiece.

The allotment for the IPO will be finalised by February 3, 2025. Dr Agarwal’s Health Care seeks to raise approximately 3027.26 crore which will include a combination of fresh issue of Rs 300 crore and offer for sale (OFS) of Rs 2727.26 crore. It will be listed on BSE and NSE with the listing date fixed as February 5, 2025.

Dr Agarwal Healthcare IPO: Check Latest GMP, Subscription Status, Listing Date

The IPO was subscribed 39% on day 1 and 42% on day 2, respectively. Dr Agarwal’s Health Care plans to raise 3027.26 crore which will consist of a combination of fresh issue of Rs 300 crore and offer for sale (OFS) of Rs 2727.26 crore. It will use Rs 195 crore for repayment or prepayment of borrowings and remaining funds will be used for possible inorganic acquisitions and general corporate uses.

Dr Agarwal’s Health Care IPO Subscription Status Day 2

The IPO has been subscribe 0.42 times on January 30, 2025.

Qualified institutional buyers or QIBs: 1.01 times
Non-institutional investors or NIIs: 0.12 times
Retail institutional investors or RIIs: 0.24 times
Employee Reserve: 1.7 times
Shareholders’ Reserve: 0.25 times.

Should You Subscribe?

According to Geojit Financial Services, it is available at a P/E of 133.6 times, that seems expensive as against its peers. Keeping in view the firm’s plans to expand its presence all over India by establishing new facilities, boosting its brand image, and its reliable revenue growth over the years, the analyst suggested ‘subscribe’ on a long-term basis.

Meanwhile, StoxBox has recommended avoid call. The analyst highlighted overvaluation as compered to listed peers, uneven financial performance, strong percentage of offer for sale (OFS). Amid these concerns, the brokerage house remained quick to give avoid call for Dr Agarwal IPO. The analyst added that it will gauze and analyse the firm’s sustained business performance in the upcoming quarters.

Latest GMP

The last GMP or Grey Market Premium stood at Rs 1.5, updated today (January 30, 2025) at 11:30 pm. The IPO’s likely listing price will be Rs 403.5 (cap price and today’s GMP). The likely percentage gain or loss per share will be 0.37%, according to investorgain.com.

Allocation Details

Dr Agarwal’s Health Care IPO has reportedly fixed 50% of the issue size for qualified institutional buyers, 35% set for non-institutional investors, and the remaining 15% has been fixed for retail investors.

It is worth mentioning that the book running lead managers of the issue include Morgan Stanley India Company Pvt Ltd, Jefferies India Private Limited, Kotak Mahindra Capital Company Limited, and Motilal Oswal Investment Advisors. On the other hand, Kfin Technologies will be registrar for the upcoming IPO.

About

It has emerged as the pioneer in the field of Laser Cataract surgery. It has been in the services of Ophthalmology for the last 75 years. The International Council of Ophthalmology has recorgnized Dr Aggarwal as one of the renowned eye hospitals in the world. It came into existence in 2010 and today offers a wide range of eye care services that include cataract & refractive surgery, diagnosis, optical products, and contact lenses, among others.

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