Dr Agarwal's Health Care sets IPO price between Rs 382 and Rs 402

Dr Agarwal's Health Care, an eye care services provider, has priced its Rs 3,027-crore initial public offering (IPO) between Rs 382 and Rs 402 per share. The IPO will open for subscription on Wednesday and conclude on Friday. Investors can bid for at least 35 equity shares and in multiples of 35 equity shares thereafter.

 

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 proceeds from the fresh issuance will be utilised for repayment, in part or whole, of certain borrowings and for unidentified inorganic acquisitions.

 

 

The company provides comprehensive eye care services, including cataract, refractive, and other surgeries; consultations, diagnoses, and non-surgical treatments; and sells opticals, contact lenses, accessories, and eye care-related pharmaceutical products.

 

As of September 30, 2024, the company operates 193 facilities in India across 117 metro and non-metro cities spanning 14 states and four union territories, along with 16 facilities spread across nine countries in Africa.

 

At the press conference announcing its IPO plans, the company also confirmed its intention to merge its listed subsidiary, Dr Agarwal Eye Hospital, with the parent company through a share swap within the next 12 months.

 

"The merger is a strategic step to consolidate operations under one umbrella, streamline management, and maximise efficiency. While we've set an outer timeline of three years, we aim to complete this within the next 12 months via a share swap. Post-merger, our focus will remain on scaling our presence across India and Africa, driving innovation in treatments, and leading the consolidation of the fragmented eye care market to build a foundation for sustainable growth," stated Dr Adil Agarwal, CEO and a member of the Board of Directors of Dr Agarwal's Health Care. 

LIC MF’s multiasset fund unveiled 

 

LIC Mutual Fund (MF) on Friday announced the launch of LIC Asset Allocation Fund, an equity taxation hybrid offering, which would invest across equity, debt and commodities like gold and silver. According to the fund house, the fund is differentiated from most existing offerings as the allocation would be at the discretion of fund managers as opposed to the model-driven approach. The scheme will invest 65 to 80 per cent of the corpus in equity, 10 to 25 per cent each in debt and gold. The fund may also invest upto 10 per cent in silver and REITs and InVITs.   - BS Reporter