Dr Agarwal Health Care, backed by Temasek Holdings and TPG, has recently received approval from SEBI to launch an initial public offering (IPO). The company plans to raise funds through a mix of fresh issue and offer for sale of equity shares. The IPO will include a subscription reservation for eligible employees as well.
The offer for sale will involve offloading shares by various promoters and selling shareholders, including Dr Amar Agarwal, Dr Athiya Agarwal, and others. Additionally, the company may consider a pre-IPO placement of up to 20% of the fresh issue size.
The proceeds from the fresh issue, amounting to ₹300 crore, will be used for purposes such as repayment of borrowings, general corporate needs, and potential inorganic acquisitions. According to a CRISIL report cited in the company’s DRHP, Dr Agarwal Health Care held a significant market share in the Indian eye care services segment in FY24.
The company operates a network of 180 facilities, predominantly in southern and western India, with a strong presence in cities like Chennai, Hyderabad, and Bengaluru. This IPO approval marks a key milestone for Dr Agarwal Health Care as it aims to further expand its reach and offerings in the eye care services sector.
Overall, this development underscores the growing interest in the healthcare sector among investors and the potential for companies like Dr Agarwal Health Care to leverage market opportunities and drive growth in the coming years.