Dr.Agarwal's Health Care Limited

Dr. Agarwal's Health Care Limited, incorporated in 2010, is one of India's largest integrated eye care service providers. It offers a full range of ophthalmic care including cataract and refractive surgeries, consultations, diagnostics, and non-surgical treatments, alongside opticals, contact lenses, and related eye-care pharmaceutical products. As of September 30, 2024, the group operated close to 200 facilities across more than a hundred cities in over a dozen Indian states and union territories, and also has a presence in several African countries. It has performed hundreds of thousands of surgeries and treated millions of patients over its history, giving it a leading share of India's organized eye care services market. The promoter group is centered on the Agarwal family, including several doctors and family trusts, along with an associated eye institute entity. The IPO combined a fresh issue of Rs 300 crore, primarily earmarked for debt repayment, with a much larger offer for sale by existing shareholders, making it predominantly a secondary sale. The company has shown strong revenue growth over recent years, supported by an expanding facility network and its established brand in the eye care segment.

Dr. Agarwal's Health Care raised about Rs 875.5 crore from anchor investors ahead of the IPO, allotting shares equal to nearly 29% of the total issue at the upper price band of Rs 402. Participants included the Government of Singapore, the Monetary Authority of Singapore, Government Pension Fund Global, Fidelity, Invesco India Midcap Fund, Goldman Sachs Singapore, HSBC Global Investment Fund, LIC Mutual Fund, Tata Mutual Fund, Edelweiss Mutual Fund, Aditya Birla Life, and Axis Max Life, among others.