Dr Agarwal's Health Care IPO ends today; 47% subscription, GMP drops to 1%

Dr Agarwal's Health Care IPO subscripion status: The initial public offering (IPO) of Dr Agarwal's Health Care, which opened for subscription on Wednesday, January 29, 2025, has received a muted response from investors. The three-day subscription window for the public offering is set to conclude today, Friday, January 31, 2025.

 

Available at a price band of Rs 308-402 per share with a lot size of 35 shares, Dr Agarwal's Health Care IPO received bids for 2,25,71,920 equity shares against the 5,35,26,172 shares on offer, resulting in a subscription of 0.42 times by the end of January 30, according to data available on the National Stock Exchange (NSE).

 

Among investor categories, only Qualified Institutional Buyers (QIBs) have fully subscribed to their reserved portion at 1.01 times. Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs) have subscribed to their respective quotas at 0.23 times and 0.12 times. Meanwhile, the quota reserved for shareholders and employees has been subscribed at 0.25 times and 0.17 times, respectively. 

 

Meanwhile, in the grey market, the premium for Dr Agarwal's Health Care unlisted shares continues to drop. Sources tracking grey market activities revealed that the company’s shares were trading at around Rs 403.5 apiece, reflecting a grey market premium (GMP) of merely Rs 1.5 or 0.37 per cent over the upper end of the issue price. Dr Agarwal's Health Care IPO GMP today is lower than the Rs 12 recorded on January 29, when the issue opened for subscription.

 

Dr Agarwal's Health Care has also succeeded in garnering reviews from several brokerages for its public offering. Among them, Canara Bank Securities has assigned a 'Neutral' rating to Dr. Agarwal's Health Care IPO, while Anand Rathi Research and SBI Securities have recommended that investors subscribe to the offering for the long term. READ MORE

 

Investors can bid for a minimum of 35 shares of Dr Agarwal's Health Care IPO and in multiples thereof. To bid for one lot (35 shares), a retail investor would require a minimum of Rs 14,070, while Rs 1,93,154 would be required to bid for the maximum of 14 lots (490 shares). 

 

The basis of allotment for Dr Agarwal's Health Care IPO shares is expected to be finalised tentatively on Monday, February 3, 2025. Successful allottees will receive Dr Agarwal's Health Care shares in their demat accounts tentatively by Tuesday, February 4, 2025.  ALSO READ: Malpani Pipes IPO closes today; check subscription data, GMP, listing date

 

Shares of Dr Agarwal's Health Care are expected to list on the BSE and NSE tentatively on Wednesday, February 5, 2025.

 

KFin Technologies is the registrar for the issue, while Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India, and Motilal Oswal Investment Advisors are the book-running lead managers.

 

Dr Agarwal's Health Care is an eye care services provider incorporated in 2010. The company offers a range of services, including cataract and refractive surgeries, consultations, and optical products. As of September 30, 2024, the company had 193 facilities across India, serving 2.13 million patients and performing 220,523 surgeries. Its services include cataract, refractive, and other surgical and non-surgical treatments.