Dr Agarwal's Eye Hospital

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Dr Agarwal's Eye Hospital shares fell 17.7 per cent, while Dr Agarwal's Health Care slid 6.83 per cent on the merger announcement

An anchor lock-in refers to an investor being "locked" into a particular stock or investment due to a psychological or financial bias that makes them reluctant to sell or switch investments

Shares of the luxury hotel operator last closed at Rs 165, down 4.2 per cent, with over Rs 700 crore worth of shares changing hands

The IPO comprises a mix of fresh issues worth up to Rs 300 crore and an offer for sale of up to Rs 2,727 crore

The top shareholder of publicly listed Dr. Agarwal's Eye Hospitals plans to operate 300 hospitals by the end of 2025. It currently has over 150 hospitals, including in African countries like Nigeria

Dr Agarwal's Group of Eye Hospitals has added more than 60 units to its network in the past five years alone

The 63-year-old Chennai-based chain currently has around 90 hospitals, including 14 in Africa

With the expansion, the company eyes strengthening presence in Africa and is also looking at entering South Asian Association Regional Cooperation countries

Tamil Nadu Municipal Administration Minister S P Velumani inaugurated the hospital and urged the group to provide treatment to the poor by giving concession as the group has 35 hospitals in the state.

Hospital chain wants to double its network in India and abroad to 150 by 2021