The Dr Agarwals Health Care IPO is scheduled to open for subscription on January 29, 2025, and will close on January 31, 2025. Investors can expect the IPO allotment to be finalized on February 3, 2025, with the listing date set for February 5, 2025, on the BSE and NSE platforms.
Dr Agarwals Healthcare IPO price band is set at ₹382 to ₹402 per share. This book-built issue aims to raise ₹3,027.26 crores through a fresh issue of 0.75 crore shares aggregating to ₹300 crores and an offer for sale of 6.78 crore shares worth ₹2,727.26 crores. The IPO price band is set at ₹382 to ₹402 per share.
Retail investors can apply with a minimum lot size of 35 shares, requiring an investment of ₹14,070, while sNII and bNII investors need to apply for at least 15 lots (₹2,11,050) and 72 lots (₹10,13,040), respectively.
The IPO’s quota distribution includes 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for Non-Institutional Investors (NIIs).
With its robust financial performance and an established presence in the healthcare industry, Dr. Agarwal’s Health Care presents promising opportunities for investors seeking long-term value.
Overview of Contents
Dr Agarwals Health Care IPO Review
| Details | Information |
|---|---|
| IPO Date | January 29, 2025, to January 31, 2025 |
| Listing Date | February 5, 2025 |
| 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 |
| Pre-Issue Shareholding | 30,84,17,160 shares |
| Post-Issue Shareholding | 31,58,79,846 shares |
| DRHP | Click here |
| RHP | Click Here |
Dr Agarwals Health Care IPO Lot Size
Investors can apply for a minimum of 35 shares in Dr. Agarwal’s IPO and in multiples thereof. The table below highlights the minimum and maximum investment requirements for retail investors and High Net-worth Individuals (HNIs) based on shares and amounts.
| Category | Lots | Shares | Investment Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 35 | ₹14,070 |
| Retail (Maximum) | 14 | 490 | ₹1,96,980 |
| Small HNI (Minimum) | 15 | 525 | ₹2,11,050 |
| Small HNI (Maximum) | 71 | 2,485 | ₹9,98,970 |
| Big HNI (Minimum) | 72 | 2,520 | ₹10,13,040 |
Dr Agarwals IPO Dates
| Event | Date |
|---|---|
| Subscription Start | Wednesday, January 29, 2025 |
| Subscription Close | Friday, January 31, 2025 |
| Allotment Finalization | Monday, February 3, 2025 |
| Refund Processing Begins | Tuesday, February 4, 2025 |
| Shares Credited to Demat | Tuesday, February 4, 2025 |
| Market Listing Date | Wednesday, February 5, 2025 |
| UPI Mandate Confirmation | By 5 PM on January 31, 2025 |
| Minimum Bid Duration | 3 Working Days |
| Listing Exchanges | BSE, NSE |
Dr. Agarwal’s IPO Reservation Details
| Investor Type | Allocation Percentage |
|---|---|
| Institutional Buyers (QIB) | Up to 50% of the Total Net Offer |
| Retail Investors | Minimum 35% of the Total Net Offer |
| High-Net-Worth Individuals (HNI) | Minimum 15% of the Total Net Offer |
Dr Agarwals IPO Promoter Holding
The promoters of Dr. Agarwal’s Health Care are key individuals and trusts associated with the Agarwal family and their eye care institutes. Their shareholding structure before and after the IPO is as follows:
| Promoter Shareholding | Percentage |
|---|---|
| Pre-Issue Holding | 37.72% |
| Post-Issue Holding | [To be updated post-allotment] |
Category Reservation Details
The maximum bidding limits and cut-off price eligibility for different investor categories in Dr. Agarwal’s IPO:
| Investor Category | Max Bidding Limit | Cut-off Price Allowed |
|---|---|---|
| Retail (RII) | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs to ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Shareholder | Up to ₹2 Lakhs | Yes |
| Employee | Up to ₹5 Lakhs (with possible discount) | Yes |
| Employee + Shareholder | Employee: ₹5 Lakhs, Shareholder: ₹2 Lakhs | Yes |
| Shareholder + RII/NII | RII: ₹2 Lakhs, sNII: ₹2-10 Lakhs, bNII: ₹10 Lakhs+ | Yes for RII/Shareholder |
| Employee + RII/NII | Employee: ₹5 Lakhs, RII/NII limits apply | Yes for RII/Employee |
About Dr. Agarwal’s Health Care IPO
Incorporated in 2010, Dr. Agarwal’s Health Care Limited is India’s largest eye care services provider, offering a comprehensive range of treatments and products, including cataract and refractive surgeries, retinal treatments, glaucoma care, corneal transplants, and oculoplasty. The company also provides optical products, contact lenses, and eye care-related pharmaceuticals. With a trusted brand and proven clinical excellence, the company has established itself as a leader in the healthcare industry.
As of September 30, 2024, Dr. Agarwal’s operates a robust network of 193 facilities, including 28 hubs (three Centers of Excellence) and 165 spokes across 117 cities in 14 states and four union territories in India. This scalable, asset-light hub-and-spoke model ensures end-to-end, accessible eye care services for patients in both metro and non-metro areas. The company has served 2.13 million patients and performed over 220,000 surgeries in the past year, showcasing its operational excellence and ability to deliver organic growth.
Dr. Agarwal’s clinical expertise is driven by a team of 737 highly qualified doctors and a strong clinical board with a history of surgical innovations. Under the leadership of doctor-promoters and an experienced management team, the company has demonstrated a proven track record of integrating and scaling acquisitions, improving profitability, and maintaining consistent growth.
With its trusted brand, comprehensive offerings, and scalable operating model, Dr. Agarwal’s Health Care Limited is well-positioned as a leader in India’s growing healthcare sector, making it an attractive proposition for investors.
Dr. Agarwal’s Health Care Limited Financial Performance
Dr. Agarwal’s Health Care Limited has shown consistent growth in its financial performance over the past few years. With a strong increase in assets, revenue, and net worth, the company has maintained healthy profitability. As of September 2024, Dr. Agarwal’s achieved a profit after tax (PAT) of ₹39.56 crore, reflecting the stability and profitability of its operations. The company’s net worth and reserves have also significantly grown, showcasing its robust financial position.
| Particulars | As of 30 Sep 2024 | As of 31 Mar 2024 | As of 31 Mar 2023 | As of 31 Mar 2022 |
|---|---|---|---|---|
| Assets (₹ Crore) | 3,393.41 | 2,752.82 | 1,825.17 | 1,026.13 |
| Revenue (₹ Crore) | 837.94 | 1,376.45 | 1,031.49 | 713.78 |
| Profit After Tax (₹ Crore) | 39.56 | 95.05 | 103.23 | 43.16 |
| Net Worth (₹ Crore) | 1,502.67 | 1,337.68 | 627.83 | 212.34 |
| Reserves & Surplus (₹ Crore) | 1,509.11 | 1,365.86 | 652.63 | 236.27 |
| Total Borrowing (₹ Crore) | 373.68 | 387.79 | 356.18 | 290.18 |
Key Performance Indicators (KPI) of Dr. Agarwal’s Health Care IPO
| KPI | Values |
|---|---|
| ROE: | 3.14% |
| ROCE: | 5.95% |
| EBITDA Margin: | 26.91% |
| PAT Margin: | 4.70% |
| Debt to equity ratio: | 0.70 |
| Earning Per Share (EPS): | ₹3.14 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 6.21% |
| Net Asset Value (NAV): | ₹50.53 |
Peer Group Comparison
Objects of the Issue
- Repayment/prepayment, in part or full, of certain of the borrowings and
- General corporate purposes and unidentified inorganic acquisition.
Dr Agarwals Health Care IPO Review
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Dr Agarwals Health Offer Lead Manager
KOTAK MAHINDRA CAPITAL COMPANY LIMITED
27 BKC, 1st Floor, Plot no. C-27,
‘G’ Block, Bandra Kurla Complex,
Bandra (East), Mumbai 400 051
Phone: +91 22 4336 0000
Email: dragarwal.ipo@kotak.com
Website: www.investmentbank.kotak.com
Dr. Agarwal’s Health Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Tel: +91 40 6716 2222
E-mail: ahcl.ipo@kfintech.com
Website: www.kfintech.com
Dr Agarwals Health Contact Details
DR. AGARWAL’S HEALTH CARE LIMITED
3rd Floor, Buhari Towers, No.4, Moores Road,
Off Greams Road, Chennai 600 006, Tamil Nadu
Phone: +91 44 4378 7777
Email: secretarial@dragarwal.com
Website: www.dragarwals.co.in
Dr Agarwals IPO FAQs
What is Dr. Agarwal’s IPO Issue Size?
Dr. Agarwal’s IPO aims to raise ₹3,027.26 Crores, which includes a fresh issue of ₹300.00 Crores and an offer for sale of ₹2,727.26 Crores.
When Does Dr. Agarwal’s IPO Open and Close?
The IPO opens for subscription on January 29, 2025, and closes on January 31, 2025.
What is the Price Band for Dr. Agarwal’s IPO?
The price band for the IPO is set between ₹382 and ₹402 per share.
How to Apply for Dr. Agarwal’s IPO?
Investors can apply for Dr. Agarwal’s IPO through their Demat accounts using online platforms or through their brokers, following the prescribed application process.
What is the Listing Date for Dr. Agarwal’s IPO?
The listing date is scheduled for February 5, 2025, on both the BSE and NSE.
What is the Lot Size for Dr. Agarwal’s IPO?
The lot size for the IPO is 35 shares, and investors can apply for multiples of 35 shares.
Who Can Invest in Dr. Agarwal’s IPO?
Retail investors, Qualified Institutional Buyers (QIBs), and Non-Institutional Investors (NIIs) can invest in Dr. Agarwal’s IPO.
What are the Reservation Categories in Dr. Agarwal’s IPO?
The reservation categories are:
- 50% for QIBs
- 35% for retail investors
- 15% for HNIs (Non-Institutional Investors)
What is the Minimum Investment Amount?
The minimum investment amount for retail investors is ₹14,070 for 35 shares.
When Will the Allotment Results be Announced?
The allotment results are expected to be announced on February 3, 2025.