The Initial Public Offer of Dr Agarwal’s Health Care IPO was subscribed 1.55 times as it entered final day of bidding. The jump was triggered by Qualified Institutional Buyers as their reserved share witnessed a 4.41 times subscription. Meanwhile, NIIs and retail categories were undersubscribed at 0.39 times and 0.41 times. Dr Agarwal’s Health Care plans to raise 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 set as February 5, 2025.
Latest Subscription Status
According to latest update available as on January 31, 2025 till 5: pm, the IPO has already been subscribed 1.49 times. The public issue in the retail category was subscribed 0.42 times. Qualified Institutional Buyers or QIBs subscribed 4.41 times, and Non-institutional investors or NIIs reportedly subscribed 0.39 times.
The public issue of 5.35 crore equity shares offers 2.54 crore shares to retail investors, 1.45 crore shares to QIBs, and 1.09 crore shares to NIIs.
Latest GMP Details
The grey market premium, popularly known as GMP, witnessed a significant decline amid lukewarm bidding for the public issue. The GMP of Dr Agarwal’s Health Care stood zero as per latest details available as on January 31, 2025 at 7 pm. The likely percentage gain or loss per share is 0%. It indicates a flat listing for traders. However, earlier the GMP in the unofficial market stood at approximately Rs 50 before the issue kicked off for bidding.
The IPO’s expected listing price is Rs 402 (cap price plus latest GMP).
Price Band
The price band for the IPO has been fixed in the range of Rs 382- Rs 402 apiece. The issue was opened on Wednesday and concluded today (January 31, 2025). Investors can place their bids for a minimum of one lot and in multiples afterwards with each lot consisting of 35 shares.
The allotment for the IPO is expected to be finalised by February 3, 2025.
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 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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