Dr. Agarwal’s Health Care Limited offers a comprehensive range of eye care services, including cataract and refractive surgeries, consultations, diagnoses, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and eye care-related pharmaceutical items.
As of September 30, 2024, 737 doctors provided care to patients across the company’s facilities. The company served 2.13 million patients during this periodand performed 220,523 surgeries. In the six months leading up to September 30, 2024, they served 1.15 million patients and conducted 140,787 surgeries.
The Services provided by the company are:
Cataract surgeries Offer cataract surgical treatments at its Facilities, such as small incision cataract surgery, phacoemulsification, robotic cataract surgery and glued intraocular lens treatments;
Refractive surgeries: Refractive surgeries are procedures that correct eye refractive errors, helping individuals reduce or eliminate their need for glasses and contact lenses. The main types include LASIK, SMILE, implantable collamer lenses, and photorefractive keratectomy (PRK).
Other surgeries: Offer a range of other surgical treatments for eye ailments, such as surgical retinal treatments, corneal transplantation and pinhole pupilloplasty, oculoplasty and surgeries for the treatment of glaucoma and pterygium.
As of September 30, 2024, the company’s Indian network has 28 hubs (Tertiary Facilities, including three COEs) and 165 spokes (53 Primary and 112 Secondary Facilities).
As of September 30, 2024, the company has a presence in India across 117 metro and non-metro cities spanning 14 states and four union territories through 193 Facilities.
Dr Agarwals Healthcare IPO – Details
| IPO Opening Date | 29 January 2025 |
| IPO Closing Date | 31 January 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 7,53,04,970 Shares Worth ₹3,027.26 Crore Fresh Issue: 74,62,686 Shares Worth ₹300.00 Crore Offer for Sale: 6,78,42,284 Shares Worth ₹2,727.26 Crore |
| Face Value | ₹1 per equity share |
| IPO Price | ₹382 – ₹402 per share |
| Market Lot | 35 Shares |
| Min Order | 35 Shares (1 Lot) |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Dr Agarwals Healthcare IPO – Date Schedule
| IPO Open Date | 29 January 2025 |
| IPO Close Date | 31 January 2025 |
| Basis of Allotment | 03 February 2025 |
| Initiation of Refund | 04 February 2025 |
| Credit of Shares to Demat Account | 04 February 2025 |
| IPO Listing Date | 05 February 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 31, 2025 |
Dr Agarwals Healthcare IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,070 |
| Retail (Max) | 14 | 490 | ₹1,96,980 |
| S-HNI (Min) | 15 | 525 | ₹2,11,050 |
| S-HNI (Max) | 71 | 2,485 | ₹9,98,970 |
| B-HNI (Min) | 72 | 2,520 | ₹10,13,040 |
Competitive Strengths
- Largest eye care services provider in India with a trusted brand.
- End-to-end, comprehensive eye care services offering.
- Scalable, asset-light, hub-and-spoke operating model.
- Proven clinical excellence is driven by a strong clinical board and a history of surgical innovations.
- Doctor-promoters leading a team of qualified medical professionals and supported by experienced management.
- Proven track record of delivering organic growth, integrating and scaling acquisitions and improving operating profitability.
Company Promoters
- 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
- Dr. Ashar Agarwal Family Trust
- Dr Agarwal’s Eye Institute
- Dr Agarwal’s Eye Institute Private Limited
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 713.78 | 657.02 | 43.16 | 290.18 |
| 31 March 2023 | 1031.49 | 947.90 | 103.23 | 356.18 |
| 31 March 2024 | 1376.44 | 1235.88 | 95.05 | 387.79 |
| 30 September 2024 | 837.94 | 777.58 | 39.56 | 373.68 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 9.33% |
| ROCE | 14.61% |
| RoNW | 6.21 |
| PAT Margin | 6.90 |
| Price to Book Value | 7.96 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 3.08 | 2.51 |
| P/E (x) | 130.44 | 160.48 |
Object Of The Issue
- Repayment/prepayment, in part or full, of certain of the borrowings and
- General corporate purposes and unidentified inorganic acquisition.
Dr Agarwals Healthcare IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 5 | Apollo Hospitals Enterprise Limited | 107.11 |
| 2 | 10 | Max Healthcare Institute Limited | 95.88 |
| 3 | 10 | Fortis Healthcare Limited | 82.11 |
| 4 | 2 | Global Health Limited | 57.49 |
| 5 | 10 | Narayana Hrudayalaya Limited | 33.14 |
| 6 | 2 | Krishna Institute of Medical Sciences Limited | 79.79 |
| 7 | 10 | Aster DM Healthcare Limited | 136.07 |
| 8 | 10 | Rainbow Children’s Medicare Limited | 67.90 |
Dr Agarwals Healthcare IPO Promoter Holding
| Pre Issue Share Holding | 37.73% |
| Post Issue Share Holding | 30.28% |
Dr Agarwals Healthcare IPO Prospectus
Company Contact Information
| Dr. Agarwal’s Health Care Limited 1 st Floor, Buhari Towers No.4, Moores Road, Off Greams Road, Near Asan Memorial School, Chennai 600 006 Phone: +91 44 4378 7777 Email: secretarial@dragarwal.com Website: https://dragarwals.co.in/ |
Dr Agarwals Healthcare IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: ahcl.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Dr Agarwals Healthcare IPO Lead Manager(s)
| 1. Jefferies India Private Limited 2. Kotak Mahindra Capital Company Limited 3. Motilal Oswal Investment Advisors Limited 4. Morgan Stanley India Company Private Limited |
Dr Agarwals Healthcare IPO FAQs
| What is Dr Agarwals Healthcare IPO? Dr Agarwals Healthcare IPO is a main-board IPO. The issue is priced at ₹382 to ₹402 per equity share. The IPO is to be listed on BSE & NSE. |
| When Dr Agarwals Healthcare IPO will open? The IPO is to open on 29 January 2025 for QIB, NII, and Retail Investors. |
| What is Dr Agarwals Healthcare IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Dr Agarwals Healthcare IPO? You can apply Dr Agarwals Healthcare IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Dr Agarwals Healthcare IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Dr Agarwals Healthcare IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Dr Agarwals Healthcare IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Dr Agarwals Healthcare IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Dr Agarwals Healthcare IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Dr Agarwals Healthcare IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Dr Agarwals Healthcare IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Dr Agarwals Healthcare IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Dr Agarwals Healthcare IPO Size? Dr Agarwals Healthcare IPO size is ₹3,027.26 Crore. |
| What is the Dr Agarwals Healthcare IPO Price Band? Dr Agarwals Healthcare IPO Price Band is ₹382 to ₹402. |
| What is Dr Agarwals Healthcare IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 35 Shares with ₹14,070 amount while the maximum bid is 490 Shares with ₹1,96,980. |
| What is the Dr Agarwals Healthcare IPO Allotment Date? Dr Agarwals Healthcare IPO allotment date is 03 February 2025. |
| What is the Dr Agarwals Healthcare IPO Listing Date? Dr Agarwals Healthcare IPO listing date is 05 February 2025. The IPO is to be listed on BSE and NSE. |
