Dr Agarwals Healthcare IPO is a book built issue of Rs 3,027.26 crores. The issue is a combination of fresh issue of 0.75 crore shares aggregating to Rs 300.00 crores and offer for sale of 6.78 crore shares aggregating to Rs 2,727.26 crores.
Dr Agarwals Healthcare IPO opens for subscription on January 29, 2025 and closes on January 31, 2025. The allotment for the Dr Agarwals Healthcare IPO is expected to be finalized on Monday, February 3, 2025. Dr Agarwals Healthcare IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, February 5, 2025.
Dr Agarwals Healthcare IPO price band is set at ₹382 to ₹402 per share. The minimum lot size for an application is 35. The minimum amount of investment required by retail investors is ₹14,070. The minimum lot size investment for sNII is 15 lots (525 shares), amounting to ₹2,11,050, and for bNII, it is 72 lots (2,520 shares), amounting to ₹10,13,040.
Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Pvt Ltd, Jefferies India Private Limited, Motilal Oswal Investment Advisors Limited are the book running lead managers of the Dr Agarwals Healthcare IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Dr Agarwals Healthcare IPO RHP for detailed information.
Dr Agarwals Healthcare IPO Details
| IPO Date | January 29, 2025 to January 31, 2025 |
| Listing Date | [.] |
| Face Value | ₹1 per share |
| Price Band | ₹382 to ₹402 per share |
| Lot Size | 35 Shares |
| Total Issue Size | 7,53,04,970 shares (aggregating up to ₹3,027.26 Cr) |
| Fresh Issue | 74,62,686 shares (aggregating up to ₹ 300.00 Cr) |
| Offer for Sale | 6,78,42,284 shares of ₹1 (aggregating up to ₹2,727.26 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 30,84,17,160 shares |
| Share Holding Post Issue | 31,58,79,846 shares |
Dr Agarwals Healthcare IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not Less than 15% of the Net Offer |
Category Reservation Detail Table
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only shareholder | Up to Rs 2 Lakhs | Allowed only if bidding amount is upto Rs 2 lakhs |
| Only employee | Up to Up to Rs 5 Lakhs | Yes |
| Employee + Shareholder | Shareholder limit: Up to Rs 2 Lakhs Employee limit: Up to Rs 5 Lakhs. (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs) |
Yes |
| Employee + Shareholder + RII/NII | Shareholder limit: Up to Rs 2 LakhsEmployee limit: Up to Rs 5 Lakhs (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)If applying as RII: Upto Rs. 2 lakhsIf applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs | Yes for shareholder/employee/RII |
| Shareholder + RII/NII | Shareholder limit: Upto Rs. 2 lakhsIf applying as RII: Upto Rs. 2 lakhsIf applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs | Yes for shareholder/RII |
| Employee + RII/NII | Employee limit: Up to Rs 5 Lakhs (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)If applying as RII: Upto Rs. 2 lakhsIf applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs | Yes for shareholder/RII |
Dr Agarwals Healthcare IPO Timeline (Tentative Schedule)
Dr Agarwals Healthcare IPO opens on January 29, 2025, and closes on January 31, 2025.
| IPO Open Date | Wednesday, January 29, 2025 |
| IPO Close Date | Friday, January 31, 2025 |
| Basis of Allotment | Monday, February 3, 2025 |
| Initiation of Refunds | Tuesday, February 4, 2025 |
| Credit of Shares to Demat | Tuesday, February 4, 2025 |
| Listing Date | Wednesday, February 5, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 31, 2025 |
Dr Agarwals Healthcare IPO Lot Size
Investors can bid for a minimum of 35 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,070 |
| Retail (Max) | 14 | 490 | ₹1,96,980 |
| S-HNI (Min) | 15 | 525 | ₹2,11,050 |
| S-HNI (Max) | 71 | 2,485 | ₹9,98,970 |
| B-HNI (Min) | 72 | 2,520 | ₹10,13,040 |
| Lot Size Calculator | |||
Dr Agarwals Healthcare IPO Promoter Holding
The Promoters of the Company are Dr. Amar Agarwal, Dr. Athiya Agarwal, Dr Adil Agarwal, Dr. Anosh Agarwal, Dr Ashvin Agarwal, Dr. Ashar Agarwal, Dr. Amar Agarwal Family Trust, Dr Adil Agarwal Family Trust, Dr. Anosh Agarwal Family Trust, Dr Ashvin Agarwal Family Trust, Dr. Ashar Agarwal Family Trust, Dr Agarwal’s Eye Institute and Dr Agarwal’s Eye Institute Private Limited
| Share Holding Pre Issue | 37.72% |
| Share Holding Post Issue |
About Dr. Agarwal’s Health Care Limited
Incorporated in 2010, Dr. Agarwal’s Health Care Limited offers a comprehensive range of eye care services, including cataract and refractive surgeries, consultations, diagnoses, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and eye care-related pharmaceutical items.
As of September 30, 2024, there were 737 doctors providing care to patients across the company’s facilities. During this period, the company served 2.13 million patients and performed 220,523 surgeries. In the six months leading up to September 30, 2024, they served 1.15 million patients and conducted 140,787 surgeries.
The Services provided by the company are:-
Cataract surgeries Offer cataract surgical treatments at its Facilities, such as small incision cataract surgery, phacoemulsification, robotic cataract surgery and glued intraocular lens treatments;
Refractive surgeries: Refractive surgeries are procedures that correct eye refractive errors, helping individuals reduce or eliminate their need for glasses and contact lenses. The main types include LASIK, SMILE, implantable collamer lenses, and photorefractive keratectomy (PRK).
Other surgeries: Offer a range of other surgical treatments for eye ailments, such as surgical retinal treatments, corneal transplantation and pinhole pupilloplasty, oculoplasty and surgeries for the treatment of glaucoma and pterygium.
As of September 30, 2024, the company’s Indian network has 28 hubs (Tertiary Facilities, including three COEs) and 165 spokes (53 Primary and 112 Secondary Facilities).
As of September 30, 2024, the company has a presence in India across 117 metro and non-metro cities spanning 14 states and four union territories through 193 Facilities.
Competitive Strength
- Largest eye care services provider in India with a trusted brand
- End-to-end, comprehensive eye care services offering
- Scalable, asset-light, hub-and-spoke operating model
- Proven clinical excellence is driven by a strong clinical board and a history of surgical innovations.
- Doctor-promoters leading a team of qualified medical professionals and supported by experienced management
- Proven track record of delivering organic growth, integrating and scaling acquisitions and improving operating profitability
+ Read More
Company Financials
Dr. Agarwal’s Health Care Limited Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 3,393.41 | 2,752.82 | 1,825.17 | 1,026.13 |
| Revenue | 837.94 | 1,376.45 | 1,031.49 | 713.78 |
| Profit After Tax | 39.56 | 95.05 | 103.23 | 43.16 |
| Net Worth | 1,502.67 | 1,337.68 | 627.83 | 212.34 |
| Reserves and Surplus | 1,509.11 | 1,365.86 | 652.63 | 236.27 |
| Total Borrowing | 373.68 | 387.79 | 356.18 | 290.18 |
Key Performance Indicator
The market capitalization of Dr Agarwals Healthcare IPO is Rs 12698.37 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 9.33% |
| ROCE | 14.61% |
| RoNW | 6.21 |
| PAT Margin | 6.90 |
| Price to Book Value | 7.96 |
Check Dr Agarwals Healthcare IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 3.08 | 2.51 |
| P/E (x) | 130.44 | 160.48 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.
Objects of the Issue (Dr Agarwals Healthcare IPO Objectives)
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:
- Repayment/prepayment, in part or full, of certain of the borrowings and
- General corporate purposes and unidentified inorganic acquisition.
Dr Agarwals Healthcare IPO Review (May apply)
[Dilip Davda] The company is engaged in eye care business providing all eye health related treatments. While its top line marked steady growth for the reported periods, it posted pressure on margins for FY23. It has nearly 25% market share in its business of eye-care related services. Based on recent financial performance, the issue appears exorbitantly priced. Only well-informed/cash surplus/risk seekers may park moderate funds for long term considering future prospects. Read detail review…
Sorry, we couldn’t find the subscription details. Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.
Dr Agarwals Healthcare IPO Prospectus
Dr. Agarwal’s Health Care Limited Contact Details
Dr. Agarwal’s Health Care Limited
1 st Floor, Buhari Towers
No.4, Moores Road, Off Greams Road,
Near Asan Memorial School, Chennai 600 006
Phone: +91 44 4378 7777
Email: secretarial@dragarwal.com
Website: https://dragarwals.co.in/
Dr Agarwals Healthcare IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: ahcl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/