DR. AGARWAL'S HEALTHCARE IPO SEES LIMITED SUBSCRIPTION ON FIRST DAY

Mumbai, January 29 (Alayaran News Service): The initial public offering (IPO) of Dr. Agarwal's Healthcare was met with lukewarm response on its first day today, as the company's shares were subscribed just 0.02 times as of 10:40 am IST.

Among retail investors, the allocation stood at 0.03 times, while Qualified Institutional Buyers (QIBs) received zero allocations. Non-Institutional Investors (NIIs), however, managed to snag 0.05 times of their allocated shares.

The IPO plans to use the net proceeds for repayment/prepayment of outstanding borrowings as well as funding general corporate purposes and potential inorganic acquisitions.

As of January 29, the Grey Market Premium (GMP) for Dr. Agarwal's Healthcare IPO stood at ₹12, indicating a 3% premium over the upper price band. According to trade news sources, the estimated listing price has been projected at Rs 414.

Dr. Agarwal's Health Care is a healthcare provider that operates under the brand Dr. Agarwal's Eye Institute and offers advanced eye care services such as routine check-ups, cataract surgeries, LASIK procedures, retina treatments, and corneal transplants. The company boasts a strong network of 209 facilities across Africa and India, making it the largest among its peers.

In FY24, Dr Agarwal's Healthcare reported impressive numbers, serving 2.13 million patients and performing over 220,000 surgeries. However, the subdued response to the IPO may signal concerns about market conditions or investor sentiment towards the healthcare sector.

Investors are advised to conduct their own research before making any investment decisions, given that GMP prices can be misleading and have no discernible basis in unauthenticated market-related news.