Dr Agarwal’s Health Care shares today made a lukewarm debut on the bourses as the stock listed at Rs 396.90 per share on Bombay Stock Exchange (BSE) as against the issue price of Rs 402 per share. It indicates a discount of approximately 1.2% from the IPO’s issue price. On the other hand, the stock was listed at Rs 402 per share on National Stock Exchange (NSE).
Dr Agarwal’s Health Care Shares Performance On BSE
Current market price of Dr Agarwal’s Health Care shares on BSE is Rs with gain of 0.38% at the time of writing the story. Earlier, the stock was trading in red till early afternoon trade. The 52-week high price is Rs 412.75 per share and 52-week low price is Rs 370.10 per share. The company’s market capitalisation is Rs 12,628.88 crore. The scrip opened at Rs 396.90 per share, touched day’s high of Rs 412.75 per share, and day’s low of Rs 370.10 apiece, as per details available on BSE.
Dr Agarwal’s Health Care Shares Performance On NSE
The current market price of Dr Agarwal’s Health Care stock on NSE is Rs 400.05 per share with decline of 0.49%. The 52-week high price is Rs 412.90 per share and 52-week low price is Rs 370.20 per share, respectively. The market capitalisation is Rs 12,636.77 crore. The stock opened at Rs 402.00 per share, hit day’s high of Rs 412.90 apiece and day’s low of Rs 370.20 per share on NSE.
Meanwhile, Dr Agarwal’s Health Care did not command any grey market premium (GMP) ahead of the debut as a result of subdued subscription and weak market. According to Prashanth Tapse, Mehta Equities, the IPO’s sluggish demand was triggered by weak market sentiment.
Earlier, StoxBox recommended avoid call. The analyst highlighted overvaluation as compared to listed peers, uneven financial performance, strong percentage of offer for sale (OFS). Amid these concerns, the brokerage house remained quick to issue 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.
Earlier, the issue was subscribed 1.55 times in its 3-day bidding tenure. Qualified Institutional Buyers (QIBs) subscribed 4.64 times, retail individuals investors (RIIs) received a subscription of 41%, and Non-Institutional Investors (NIIs) got 39% subscriptions.
Dr Agarwal’s Health Care set the price band of Rs 382- Rs 402 apiece of the face value of Re 1 each. The IPO contained a fresh issue of equity shares amounting to Rs 300 crore and an offer for sale (OFS) of nearly 6.78 crore equity shares, worth Rs 2727.26 crore from promoters and investors.
It sought to use Rs 195 crore for repayment or prepayment of borrowings and remaining funds will be used for possible inorganic acquisitions and general corporate uses.
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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