
Dr. Agarwal’s Health Care has raised ₹875.50 crores from anchor investors ahead of its much-anticipated initial public offering (IPO) set to open on January 29, 2025. The company allocated 2,17,78,798 equity shares at ₹402 per share to prominent anchor investors, including Government of Singapore, Fidelity, Goldman Sachs, LIC Mutual Fund, Tiger Pacific Master Fund, and several domestic mutual funds.
Out of the total allocation, 52,61,060 equity shares (24.16% of the anchor book) were assigned to six domestic mutual funds across 11 schemes. Lead managers for the IPO include Kotak Mahindra Capital, Morgan Stanley India, Jefferies India, and Motilal Oswal Investment Advisors, with KFin Technologies as the registrar.
IPO Details
Dr. Agarwal’s IPO comprises a fresh issue worth ₹300 crore and an offer for sale of up to 67,842,284 equity shares by existing stakeholders. The issue also includes reservations for employees (1,579,399 shares) and shareholders (1,129,574 shares).
The IPO will open on January 29, 2025, and close on January 31, 2025. The price band is set at ₹382-₹402 per equity share, with the offering expected to raise ₹3,027.26 crore at the upper price band. Investors can bid for a minimum of 35 shares and in multiples thereof.
The offer is structured to allocate 50% of shares to qualified institutional buyers (QIBs), 15% to non-institutional investors, and 35% to retail investors.