Dr. Agarwal's Health Care Set to Raise Rs 3,027 Crore via IPO

New Delhi: The Indian stock market is all set to welcome another new entrant as Dr. Agarwal's Health Care, a Chennai-based healthcare service provider, is all prepared to make its Initial Public Offering (IPO) debut on Wednesday, January 29.

According to the company's statement, its IPO will be open for bidding in the range of Rs 382-402 apiece, with a minimum allotment of 35 equity shares and its multiples thereafter. The issue is expected to close for bidding on Friday, January 31.

The fresh share sale by the company is worth Rs 300 crore, while an offer-for-sale (OFS) of up to 6,78,42,284 equity shares worth Rs 2,727.26 crore by its promoters and existing shareholders will also be part of the auction process. The total size of the IPO is estimated to be around Rs 3,027.26 crore.

In an interview, the company's management stated that net proceeds from the issue would be utilized towards repayment/prepayment, in part or full, of certain of the borrowings; general corporate purposes; and unidentified inorganic acquisition.

As per the company's financial report, it has a strong presence with 737 doctors providing care to patients across its facilities. In the six months ending September 30, 2024, the company served 2.13 million patients and performed 220,523 surgeries.

Dr Agarwal's Health Care reported a net profit of Rs 39.56 crore with a revenue of Rs 837.94 crore for the six months ended on September 30, 2024. The company clocked a net profit of Rs 95.05 crore with a revenue of Rs 1,376.45 crore for the financial year 2023-24.

The issue will be managed by Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India, and Motilal Oswal Investment Advisors as book-running lead managers, while Kfin Technologies has been assigned as the registrar for the IPO.

Shares of Dr Agarwal's Health Care are expected to be listed on both BSE and NSE on Wednesday, February 5.