The subscription window for Dr Agarwal’s Health Care Ltd’s initial public offering (IPO) is set to close today. The eye care services provider raised over Rs 875.5 crore from anchor investors before this public offering. The IPO is a mix of a fresh issue worth Rs 300 crore and an Offer For Sale (OFS) of up to 6.78 crore equity shares amounting to Rs 2,727.26 crore by promoters and other selling shareholders.
The price band is Rs 382 to Rs 402 per share. Investors can bid in lots of 35 equity shares and multiples thereof. As of the last update, the Rs 3,027.26-crore public issue was subscribed to 96 per cent overall.
The category for Qualified Institutional Buyers (QIBs) saw a subscription rate of 1.96 times.
Subscription for IPO ends today
The basis of allotment will be finalized on February 3, 2025.
Shares of Dr Agarwal’s Health Care are expected to be listed on the BSE and NSE on February 5, 2025. The current Grey Market Premium (GMP) for Dr Agarwal’s Health Care IPO stands at Rs 0, though it has previously reached as high as Rs 54. The book-running lead managers for the issue include Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India, and Motilal Oswal Investment Advisors.
Dr Agarwal’s Health Care is a well-established eye care services provider. It offers a range of services that include cataract, refractive, and other types of surgeries. The company also provides consultations, diagnostics, non-surgical treatments, as well as optical products, contact lenses, accessories, and related pharmaceutical items.
The upcoming closure of the subscription window and the subsequent listing marks a major event for the company and its potential investors.