February 5, 2025
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Dr. Agarwal’s Healthcare IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
What is the latest news relating to Dr. Agarwal’s Healthcare IPO?
On 5th February 2025, the scrip is listed at Rs. 389.05, at discount compared to the issue price of Rs.402. The listing is as per the expectations of the grey market.
What is the latest GMP of Dr. Agarwal’s Healthcare IPO?
Rs. 78
Dr. Agarwal’s Health Care IPO Subscriptions
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 4.41 | 0.29 | 0.54 | 0.39 | 0.42 | 1.49 |
| Applications: 2,53,169 / (?x) Amount wise Bids recd. Rs. ? Crore |
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What are the promoters of Dr. Agarwal’s Healthcare IPO?
THE PROMOTERS OF THE COMPANY ARE DR. AMAR AGARWAL, DR. ATHIYA AGARWAL, DR. ADIL AGARWAL, DR. ANOSH AGARWAL, DR. ASHVIN AGARWAL, DR. ASHAR AGARWAL, DR. AMAR AGARWAL FAMILY TRUST, DR. ADIL AGARWAL FAMILY TRUST, DR. ANOSH AGARWAL FAMILY TRUST, DR. ASHVIN AGARWAL FAMILY TRUST AND DR. ASHAR AGARWAL FAMILY TRUST, DR. AGARWAL’S EYE INSTITUTE AND DR. AGARWAL’S EYE INSTITUTE PRIVATE LIMITED
What are the Objects of Dr. Agarwal’s Healthcare IPO?
The Offer comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholders.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:
1. Repayment/prepayment, in part or full, of certain of our borrowings; and
2. General corporate purposes and unidentified inorganic acquisition.
What is the business of Dr. Agarwal’s Healthcare?
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 lenses and accessories, and eye care related pharmaceutical products. It had a market share of approximately 25% of the total eye care service chain market in India during the Financial Year 2024. With long-standing operational history, it endeavors to address all the needs of its patients in their eye treatment journey through a network, which as of March 31, 2024, comprised 180 Facilities. Among its compared listed and unlisted peers, it had the highest number of eye care service facilities in India, as of March 31, 2024. 667 doctors served its patients across its Facilities as of March 31, 2024, and during the Financial Year 2024, it served 2.13 million patients and performed 220,523 surgeries.
The Indian eye care industry is projected to grow at a CAGR of 12% to 14% from Financial Year 2024 to Financial Year 2028. The size of the Indian eye care services industry was approximately ₹378 billion in Financial Year 2024 and is projected to grow to Rs.550 – 650 billion by the Financial Year 2028.
The share of eye care service chains in India is about 13% to 15% of the total eye market in the Financial Year 2024 and was estimated to be 12% to 14% in the Financial Year 2023, signifying the headroom for growth for the organized eye care service chain market in India.
Given the growth potential and availability of substantial opportunities, India is its core market with 165 Facilities across 92 metro and non-metro cities spanning 13 states and four union territories as of March 31, 2024.
In addition to its operations in India, it commenced its international operations in 2012 and as of March 31, 2024, operate 15 Facilities across nine countries in Africa, where it provides a range of eye care services, including treatments for cataract, glaucoma, diabetic retinopathy, retinal detachment, and dry eye, along with refractive surgeries, and pediatric and neuro ophthalmological treatments.
For more information, click www.dragarwals.co.in
Dr. Agarwal’s Healthcare IPO GMP, Particulars & Guidance
| Dr. Agarwal’s Healthcare IPO Details | |
| IPO opens on | 29 January 2025 |
| IPO closes on | 1 February 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 75304,970 Shares / Rs 3027.26 Cr |
| * Fresh Issue | 7462,686 Shares / Rs 300 Cr |
| * Offer for Sale | 67842284 Shares / Rs 2727.26 Cr |
| Face Value per share: | Rs. 1 |
| Price Band | Rs. 382-402 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 35 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Dr. Agarwal’s Healthcare? | Shares | Rs. in Cr |
| QIB (50 %) | 37652485 | 1513.63 |
| NII (15 %) | 11295745 | 454.09 |
| RII (35 %) | 26356740 | 1059.54 |
| Employees | – | – |
| Total Shares | 75304970 | 3027.26 |
| Retail portion will be oversubscribed by | 753050 Forms. | |
| How to apply in Dr. Agarwal’s Healthcare IPO ? |
Amount Rs. |
|
| Min Retail Application | 35 Shares | 14070 |
| Max Retail Application | 490 shares | 196980 |
| Small HNI (Min) application | 525 Shares | 211050 |
| Small HNI (Max) application | 2485 Shares | 998970 |
| Big HNI Application | 2520 Shares | 1013040 |
| What is the timetable of Dr. Agarwal’s Healthcare IPO? |
|
| IPO opens on | 29 January 2025 |
| IPO Closes on | 31 January 2025 |
| IPO Allotment on | 1 February 2025 |
| Unblocking of Asba | 3 February 2025 |
| Credit of Shares | 3 February 2025 |
| Listing of Shares | 5 February 2025 |
| Registered Office of Dr. Agarwal’s Healthcare | |
| 1st Floor, Buhari Towers, No.4 Moores Road, Off Greams Road, Near Asan Memorial School, Chennai 600 006, Tamil Nadu, India |
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| Who are the Lead Managers of Dr. Agarwal’s Healthcare IPO? Kotak Mahindra Capital Company Ltd Morgan Stanley India Company Pvt ltd Jefferies India Pvt ltd Motilal Oswal Investment Advisors Ltd |
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| Registrar to IPO | |
| KFin Technologies Limited |
| Dr. Agarwal’s Healthcare IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2021-22 | 713.78 | 43.16 | 1.83 | 6.21 |
| 2022-23 | 1031.49 | 103.23 | 4.01 | 14.99 |
| 2023-24 | 1376.45 | 95.05 | 3.14 | 17.75 |
| Book Value of the Share on 31.03.2024 |
Rs. | 50.53 | ||
| BV after the IPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 402 | ||
| Dr. Agarwal’s Healthcare IPO Ratio Analysis |
|
| Price /EPS | 128.03 |
| Price/BV Ratio | 7.95 |
| Debt/Equity | ? |
How Dr. Agarwal’s Healthcare IPO compares with the Peers?
Peer Comparison.
| As on date of DRHP | FV | Total | PE |
| Rs. | Income (Cr) | Ratio of | |
| Dr. Agarwal’s | 1 | 1332 | 128.03 |
| Apollo Hospital | 5 | 19052 | 113.47 |
| Max Healthcare | 10 | 6849 | 98.56 |
| Fortis Healthcare | 10 | 6893 | 76.33 |
| Global Healthcare | 2 | 327 | 62.32 |
| Narayan Healthcare | 10 | 5018 | 32.04 |
| Krishna Medical | 10 | 2498 | 14.13 |
| Aster DM | 10 | 3699 | 162.10 |
| Rainbow Children | 10 | 1297 | 64.46 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Dr. Agarwal’s Healthcare IPO Guidance by Paresh Gordhandas, CA & Research Analyst.
The company offers a wide range of eye care services, including cataract, refractive, and other surgeries; consultations, diagnoses, and non-surgical treatments; as well as optical products, contact lenses, accessories, and eye care-related pharmaceuticals. As of the Financial Year 2024, the company holds approximately 25% of the total eye care service market in India.
The healthcare market in India is gradually becoming more organized, and this company is well-positioned to capture a share of that growth. However, certain healthcare services like eye surgeries, dental treatments, and dermatology may continue to be dominated by individual practitioners or standalone medical professionals. Consequently, the company’s growth potential might not reach the same scale as larger hospital chains like Apollo Hospitals or Fortis.
The shares in this IPO are being offered at a high price-to-earnings (PE) multiple of 128.03, which exceeds the PE multiple of major players like Apollo Hospitals. Given the elevated offer price, there is limited potential for significant listing gains. Additionally, with the broader market sentiment turning bearish in recent sessions, this could impact the listing price as well.
Considering these factors, I would recommend avoiding this IPO.
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