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HomeMarket NewsAhead of IPO, Dr Agarwal’s Health Care raises ₹875.50 crore from anchor investors
In a regulatory filing on Tuesday, the company revealed that it had allocated 2,17,78,798 equity shares at ₹402 per share to anchor investors. Prominent foreign and domestic institutions, including the Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global, and Fidelity, were among those who participated in the anchor round.
By CNBCTV18.com January 28, 2025, 11:12:31 PM IST (Published)
Eye-care chain Dr Agarwal’s Health Care has secured ₹875.50 crore from anchor investors just a day before its initial public offering (IPO) opens for public subscription on Wednesday, January 29.
In a regulatory filing on Tuesday, the company revealed that it had allocated 2,17,78,798 equity shares at ₹402 per share to anchor investors. Prominent foreign and domestic institutions, including the Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global, and Fidelity, were among those who participated in the anchor round.
Other key investors included Invesco India Midcap Fund, The Nomura Trust, Ashoka Whiteoak MF, Motilal Oswal Small Cap Fund, Canara Robeco MF, VQ Fastercap Fund, The Prudential Assurance Co, HSBC Global Investment Fund, 360 One Equity Opportunity Fund, and Goldman Sachs (Singapore) PTE – ODI. Domestic names such as LIC MF, Tata MF, Edelweiss MF, Axis Max Life, Aditya Birla Life, and Edelweiss Life Insurance were also part of the anchor allocation.
Out of the total anchor allocation, 52,61,060 equity shares (24.16% of the anchor book size) were allotted to six domestic mutual funds through a total of 11 schemes.
IPO details
The IPO comprises a mix of a fresh issue of equity shares worth ₹300 crore and an offer for sale (OFS) of up to 67,842,284 equity shares by promoters, investors, and other selling shareholders. It includes an employee reservation portion of up to 1,579,399 equity shares and a shareholder reservation portion of up to 1,129,574 equity shares.
The public issue will open on January 29, 2025, and close on January 31, 2025, with a price band set between ₹382 and ₹402 per share. At the upper end of the price band, the IPO is expected to raise ₹3,027.26 crore.
Investors can place bids for a minimum of 35 equity shares and in multiples of 35 thereafter. The offering will follow a book-building process, where up to 50% of the issue will be allocated to qualified institutional buyers (QIBs), at least 15% to non-institutional investors (NIIs), and a minimum of 35% to retail individual investors (RIIs).
Key stakeholders and issue managers
The IPO will be managed by a team of book-running lead managers, including Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Jefferies India Private Limited, and Motilal Oswal Investment Advisors Limited. KFin Technologies Limited will serve as the registrar for the issue.
