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.
Cataract surgeries: Offer cataract surgical treatments at its Facilities, such as small incision cataract surgery, phacoemulsification, robotic cataract surgery and glued intraocular lens treatments.
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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).
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Dr Agarwal's Healthcare IPO bidding opened for subscription on January 29 2025 and will close on January 31, 2025. The allotment for the Dr Agarwal's Healthcare IPO is expected to be finalized on Monday, February 3, 2025. Dr Agarwal's Healthcare IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, February 5.
Dr Agarwal's Healthcare IPO Details PO 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
Shareholding Pre-Issue 30,84,17,160 shares
Shareholding Post Issue .31,58,79,846 shares
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 Agarwal's Healthcare IPO, while Kin Technologies Limited is the registrar for the issue.
Dr Agarwal Healthcare IPO Reservation
Dr Agarwal's Healthcare IPO offers 7,53,04,970 shares. 1,45,19,200 (19.28%) to QIB, 1,08,89,400 (14.46%) to NII, 2,54,08,599 (33.74%) to RII, 15,79,399 (2.1%) to employees and 2,17,78,798 (28.92%) to Anchor investors.
Dr Agarwal's Healthcare IPO Anchor Investors Details
Bid Date .........January 28, 2025
Shares Offered 2,17,78,798
Anchor Portion Size (In Cr.) 875.51
Anchor lock-in period end date for 50% shares (30 Days) March 5, 2025
Anchor lock-in period end date for remaining shares (90 Days) May 4, 2025
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Dr Agarwal's 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
Retai (Min) 1 35 ₹14,070
Ret (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
Dr Agarwal's 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.
Shareholding Pre-Issue 37.72%
Shareholding Post Issue 32.5%
Conclusion
The company is engaged in the 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 the long-term considering future prospects.
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