Dr Agarwal's Health Care Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹402
Per ShareLot Size
35 Shares
Minimum Investment
₹14,070
Issue Size
₹3,027.26 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Dr Agarwals Health Care Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
37.72%
Promoter Holding (Post-Issue)
32.45%
Issue Type
Book Building
ISIN
INE943P01029
About the Company
We provide a comprehensive range of eye care services, including cataract, refractive and other surgeries; consultations, diagnoses and non-surgical treatments; and sell opticals, contact lens and accessories, and eye care related pharmaceutical products. We endeavour to address all the needs of our patients in their eye treatment journey through a network, which as of September 30, 2024, comprised 209 Facilities.
Industry Overview
According to the CRISIL MI&A Report, the eye care market in India has grown at a compounded annual growth rate of 11.5 % between the Financial Years 2019 and 2024 to reach the value of ?378 billion in the Financial Year 2024. This market includes surgical and non-surgical treatments for patients suffering from various eye disorders. Surgical treatments in this industry includes cataract surgery, glaucoma, retina surgeries, refractive surgeries, cornea and other eye related surgeries. Cataract surgery has the largest share of eye care surgery in India. Non-surgical treatments in the industry include general checkups, pre-treatment assessment, post-treatment follow ups, diagnostics etc.
Company History
Our Company was incorporated as `Dr. Agarwal's Health Care Limited' at Chennai, Tamil Nadu as a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated April 19, 2010, issued by the Registrar of Companies, Tamil Nadu and Andaman and Nicobar Island at Chennai ("RoC") and commenced operations pursuant to a certificate for commencement of business dated May 29, 2010 issued by the RoC.
Products & Services
- The Company provides a comprehensive range of eye care services, including cataract, refractive and other surgeries; consultations, diagnoses and non-surgical treatments; and sell opticals, contact lens and accessories,& eye care related pharma. products
Growth Strategy
- Continued organic expansion of our network in India.
- Strengthen our brand equity with community, patients, and doctors across India.
- Undertake opportunistic acquisitions and restructuring to scale our operations, leveraging our experience of inorganic growth and integration
- Attracting and retaining qualified doctors and paramedics through continuous training, knowledge sharing and upskilling.
- Focus on improving profitability and Facility-level growth and enhancing operational efficiencies.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of up to 75,304,970 equity shares of face value of Re. 1/- each ("Equity Shares") of Dr. Agarwal's Health Care Limited ("Company") for cash at a price of Rs. 402.00 per equity share (including a share premium of Rs. 401.00 per equity share) ("Offer Price") aggregating up to Rs. 3027.26 crores comprising a fresh issue of up to 74,62,686 equity shares of face value of Re. 1/- aggregating up to Rs. 300.00 crores by the company ("Fresh Issue") and an offer for sale of up to 67,842,284 equity shares of face value of Re. 1/- aggregating up to Rs. 2727.26 crores ("Offered Shares") by the selling shareholders, consisting of up to 2,176,239 equity shares of face value of Re. 1/- aggregating up to Rs. 87.48 crores by Amar Agarwal, up to 2,629,829 equity shares of face value of Re. 1/- aggregating up to Rs. 105.72 crores by Athiya Agarwal, up to 3,071,188 equity shares of face value of Re. 1/- aggregating up to Rs. 123.46 crores by Adil Agarwal, up to 3,614,508 equity shares of face value of Re. 1/- aggregating up to Rs. 145.30 crores by Anosh Agarwal, up to 241,269 equity shares of face value of Re. 1/- aggregating up to Rs. 9.70 crores by Ashvin Agarwal, up to 1,883,869 equity shares of face value of Re. 1/- aggregating up to Rs. 75.73 crores by Agarwal's Eye Institute (collectively "The Promoter Selling Shareholders"), up to 7,083,010 equity shares of face value of Re. 1/- aggregating up to Rs. 284.74 crores by Arvon Investments Pte. Ltd., up to 16,148,150 equity shares of face value of Re. 1/- aggregating up to Rs. 649.16 crores by Claymore Investments (Mauritius) Pte. Ltd., and up to 30,755,592 equity shares of face value of Re. 1/- aggregating up to Rs. 1236.37 crores by Hyperion Investments Pte. Ltd. (collectively the "Investor Selling Shareholders"), up to 119,315 equity shares of face value of Re. 1/- aggregating up to Rs. 4.80 crores by Farah Agarwal, up to 119,315 equity shares of face value of Re. 1/- aggregating up to Rs. 4.80 crores by Urmila Agarwal (collectively the "Other Selling Shareholders") (the promoter selling shareholders, the other selling shareholders and the investor selling sharehodlers, collectively referred to as the "Selling Shareholders") and such equity shares offered by the selling shareholders ("Offer for Sale", and together with the fresh issue, the "Offer"). The offer included a reservation of 1,579,399 equity shares of face value of Re. 1/-, aggregating to Rs. 63.49 crores (Constituting 0.50 % of the post-offer paid-up equity Share Capital), for subscription by eligible employees ("Employee Reservation Portion") and a reservation of 1,129,574 equity shares aggregating to Rs. 45.41 crores (Constituting 0.36 % of the post-issue paid-up Equity Share Capital) for subscription by eligible AEHL shareholders ("Shareholder Reservation Portion"). The offer less the employee reservation portion and the shareholder reservation is hereinafter referred to as the "Net Offer". The offer and the net offer constituted 23.84 % and 22.98 % of the post-offer paid-up equity share capital of the company, respectively. The face value of equity shares is Re. 1/- each. the offer price is 402 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Largest eyecare services provider in India with a trusted brand.
- End-to-end, comprehensive eyecare services offering.
- Scalable, asset-light, hub-and-spoke operating model.
- Proven clinical excellence driven by a strong clinical board and history of surgical innovations.
- Doctor-promoters leading a team of qualified medical professionals and supported by an experienced management.
- The company engage doctors through retainership arrangements and there is no assurance that its doctors will not prematurely terminate their arrangements with it. If the company is not able to attract and retain its doctors and other medical professionals, the company business, financial condition, results of operations and cash flows may be adversely affected.
- The company business depends on the strength of the company brand equity and reputation. Failures to maintain and enhance its brand equity and reputation, including due to negative publicity, may adversely affect its business, reputation, financial condition, results of operations and prospects.
- The company operates in a regulated industry, and its failures to comply with applicable safety, health, environmental, labor and other regulations, or to obtain or renew approvals, may adversely affect its business, reputation, financial condition, results of operations and cash flows.
- A significant majority of its Facilities are located in the states of Tamil Nadu (in particular, Chennai), Maharashtra and Karnataka in India and any adverse developments in relation to these Facilities could adversely affect its business, financial condition, results of operations and cash flows.
- The company is exposed to legal claims and regulatory actions arising from the provision of healthcare services and may be subject to liabilities arising from claims of malpractice and medical negligence which could adversely affect its business, financial condition, results of operations, cash flows, reputation and prospects.