Credit: Sugandh Khandelwal
Dr. Agarwal’s Health Care IPO had a lackluster debut on Tuesday, February 4, listing at ₹402 on the NSE, the same as its issue price. On the BSE, the stock opened at ₹396.90, reflecting a 1.27% decline from the IPO price.
The ₹3,027.26 crore IPO was open for subscription from January 29 to January 31, with a price band set at ₹382-402 per share. Despite receiving a strong overall response, with bids amounting to 1.49 times the shares on offer, demand varied across investor categories. The IPO attracted bids for 7.98 crore shares against an available 5.35 crore. However, the retail investor segment saw limited participation, subscribing only 0.42 times. Similarly, non-institutional investors (NII) bid 0.39 times, and the employee and others quota witnessed subscriptions of just 0.26 times and 0.51 times, respectively. The Qualified Institutional Buyers (QIB) segment, however, showed strong interest, subscribing 4.41 times the allocated portion.
About Dr. Agarwal’s Health Care
Founded in 2010, Dr. Agarwal’s Health Care Limited specializes in comprehensive eye care services, including cataract and refractive surgeries, diagnostics, consultations, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and pharmaceutical items related to eye health.
As of September 30, 2024, the company employed 737 doctors across its facilities. During this period, it served 2.13 million patients and conducted 220,523 surgeries. In the first half of the fiscal year ending September 30, 2024, it treated 1.15 million patients and performed 140,787 surgeries.
