Dr Agarwal's Health Care IPO: Issue subscribed 38% so far on day 2; check price band, lot size and more

Temasek Holdings and TPG-backed Dr Agarwal's Health Care's initial public offering has received 38% subscription so far, the second day of subscription on Thursday, January 30.

According to the consolidated data on the NSE, the public issue received bids for 2,04,00,415 shares against 5,35,26,172 shares on offer until 1:30 pm.

The category reserved for retail individual investors (RIIs) mobilised 20% subscription as they applied for 50,98,940 shares compared to 2,54,08,599 shares on offer.

The non-institutional investors (NIIs) fetched 9% subscription. They submitted applications for 9,91,865 shares against 1,08,89,400 shares reserved for them.

The qualified institutional buyers (QIBs) received bids for 1,38,29,410 shares as against 1,45,19,200 shares on offer, leading to 95% subscription.

Dr Agarwal's Health Care IPO details

The ₹3,027.26 crore initial share sale, which will conclude on January 31, consists of a fresh issue worth ₹300 crore and an offer-for-sale component of ₹2,727.26 crore. The price band has been fixed at ₹382-₹402 per share.

Under OFS, Claymore Investments (Mauritius) Pte Ltd, Arvon Investments Pte Ltd, and Hyperion Investments Pte Ltd will offload their stake.

The money raised to the tune of ₹195 crore will be used for debt payment. A part will also be used for unidentified inorganic acquistions and corporate general purposes.

Before the IPO, the company raised ₹875.50 crore from anchor investors, including the Monetary Authority of Singapore, The Government of Singapore, Morgan Stanley, Goldman Sachs, Government Pension Fund Global (Norway), Nomura, Fidelity, Invesco Mutual Fund (MF), Canara Robeco MF, Motilal Oswal MF and Tata MF.

Dr Agarwal's Health Care IPO lot size

Investors can apply for a minimum of 35 shares worth ₹14,070.

Kotak Mahindra Capital Company, Motilal Oswal Investment Advisors, Morgan Stanley India Company, and Jefferies India are the issue's book-running lead managers, while KFin Technologies is the registrar.

Dr Agarwal's Health Care is a leading eye care services provider. It offers services such as cataract, refractive, and other surgeries, diagnosis, and non-surgical treatments. It also sells optical products, accessories, contact lenses, and eye care-related pharmaceutical items.