Dr Agarwal listing: Company sees a muted debut, opens at ₹402

Shares of the healthcare service provider Dr Agarwal Healthcare made a mute debut on the equity benchmark indices on Tuesday, February 4.

On NSE, Dr Agarwal's Healthcare share price opened at ₹402 per share, same as the IPO price. On BSE, Dr Agarwal's Healthcare share price opened at ₹396.90 apiece, losing 1.27% than the issue price.

The public issue was open for subscription from January 29 to January 31, and the IPO allotment was finalised on February 3.

The initial public offer (IPO) was fully subscribed on the final day of subscription on January 31.

As per the consolidated data on the National Stock Exchange (NSE), the initial share sale received bids for 8,32,18,380 shares against 5,35,26,172 equity shares on offer, translating to a total subscription of 1.55 times.

Qualified institutional buyers (QIBs) led the bidding as they subscribed to their category 4.64 times. They applied for 6,73,61,280 shares against 1,45,19,200 set aside for them.

The non-institutional investors (NIIs) quota was booked at 40% as they submitted applications for 43,07,310 shares compared to 1,08,89,400 shares on offer.

The retail individual investors (RIIs) applied to 1,05,40,285 shares against 2,54,08,599 shares reserved for them, leading to a 41% subscription.

The employee's part was subscribed just 27% as they bid for 4,25,565 compared to 15,79,399 on offer.

The ₹3,027.26-crore IPO was a ₹300 crore worth fresh issue and an offer-for-sale valued at ₹2,727.26 crore. The price band was fixed at ₹382-₹402 per equity share.

Investors were allowed to apply for at least one lot consisting of 35 shares. The minimum investor was ₹14,070.

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

Dr Agarwal's Health Care provides various services, such as refractive, cataract, and other surgeries, non-surgical treatments, diagnosis, and the sale of optical products.