New Delhi, Feb 4 (PTI) — Dr Agarwal's Health Care Ltd had a subdued entry into the stock market on Tuesday, debuting with a slight discount of over 1% on the Bombay Stock Exchange (BSE) against its issue price of ₹402 per share.
The stock opened at ₹396.90 on the BSE, marking a 1.26% decline from its issue price. During early trade, it fluctuated between a high of ₹412.75 and a low of ₹376.40. On the National Stock Exchange (NSE), the stock debuted at ₹402, in line with its issue price.
Following the listing, the company’s market capitalization was recorded at ₹11,929.20 crore.
IPO Subscription and Fund Allocation
Dr Agarwal’s Health Care Ltd’s Initial Public Offering (IPO) was subscribed 1.55 times on its final bidding day, Friday. The ₹3,027.26-crore public issue was launched within a price band of ₹382-402 per share.The IPO comprised a fresh issue worth ₹300 crore and an Offer-for-Sale (OFS) of 6.78 crore equity shares, amounting to ₹2,727.26 crore, offloaded by promoters and existing shareholders at the upper price band.
Of the fresh issue proceeds, ₹195 crore will be allocated toward debt repayment, while the remaining funds will be utilized for corporate expenses and potential acquisitions.
Business Overview and Market Presence
Dr Agarwal's Health Care specializes in comprehensive eye care services, including cataract and refractive surgeries, diagnosis, non-surgical treatments, and the sale of optical products, contact lenses, and pharmaceutical eye care products.As of September 2024, the company operated 193 facilities, with a strong presence in South India—especially in Chennai, Hyderabad, and Bengaluru—followed by an expanding footprint in Western India.
Despite the initial dip, investors will closely watch how the stock performs in the coming days as the company leverages its robust market presence in the healthcare sector.
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