Dr Agarwal's Health Care to float IPO, files draft papers with Sebi

Temasek Holdings and TPG-backed Dr Agarwal's Health Care, an oculus attraction services provider, has filed preliminary papers with the superior markets regulator to rise an estimated Rs 3,000-3,500 crore done its archetypal nationalist offering (IPO). The IPO is simply a operation of a caller contented of up to Rs 300 crore and an Offer For Sale, (OFS) of up to 6.95 crore equity shares by promoters and different selling shareholders. The connection besides includes a subscription for eligible employees, according to the draught reddish herring prospectus (DRHP).

Those selling shares successful the OFS see Arvon Investments Pte. Ltd, Claymore Investments (Mauritius) Pte. Ltd, and Hyperion Investments Pte. Ltd.

Merchant banking sources person pegged the IPO size arsenic Rs 3,000-3,500 crore.

Going by the draught papers filed connected Friday, proceeds from the caller contented to the tune of Rs 195 crore volition beryllium utilized for outgo of indebtedness and besides, a information volition beryllium utilized for wide firm purposes, and for unidentified inorganic acquisition.

Dr Agarwal's Health Care offers a wide array of services including cataract, refractive, and different surgeries, consultations, diagnosis, non-surgical treatments, and the merchantability of optical products, interaction lenses, accessories, and oculus care-related pharmaceutical items.

According to a CRISIL MI&A report, the institution held astir 25 per cent of the full oculus attraction work concatenation marketplace successful India during FY 2024.

As of March 31, 2024, its web consisted of 180 facilities retired of which 165 facilities were successful India with a bulk attraction successful South India peculiarly Chennai, Hyderabad and Bengaluru followed by Western India.

On the fiscal front, Dr Agarwal's Health Care gross from operations was astatine Rs 1,332.15 crore successful Fiscal 2024. Profit aft taxation stood astatine Rs 95.05 crore.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India and Motilal Oswal Investment Advisors are the book-running pb managers to the issue.