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Dr. Agarwal’s Healthcare Limited IPO 2025: 10 Must-Know Investment Details

Dr. Agarwal’s Healthcare Limited IPO 2025: 10 Must-Know Investment Details

Dr. Agarwal’s Healthcare Limited IPO 2025

Dr. Agarwal’s Healthcare Limited, a leading eye care service provider in India, is all set to launch its ₹3,027.26 crore Initial Public Offering (IPO) from January 29 to January 31, 2025. With a well-established reputation and a strong foothold in the healthcare sector, this IPO offers a promising investment opportunity for those seeking to tap into the growing Indian eye care market. 

Here are the 10 key things you should know before investing in the Dr. Agarwal’s Healthcare Limited IPO: 


  1. What makes Dr. Agarwal’s Healthcare a good opportunity?

Dr. Agarwal’s Healthcare Limited is India’s largest provider of eye care services, operating a comprehensive network of 209 facilities, including 28 hubs and 165 spokes. 

The company has a strong focus on advanced treatments such as LASIK, SMILE, corneal transplantation, and glaucoma surgery. In FY24, the company served 2.13 million patients and performed 220,523 surgeries, achieving a 25% market share in India’s eye care service chain. 

With a market value of approximately ₹378 billion in FY24 and a projected CAGR of 12-14% until FY28, the Indian eye care industry offers significant growth opportunities, making Dr. Agarwal’s Healthcare well-positioned for future expansion. 


  1. What are the IPO dates, price band, and issue size?

Here are the key details of the IPO: 

  • IPO dates: January 29 – January 31, 2025 
  • Listing date: February 5, 2025 
  • Price band: ₹382 – ₹402 per share 
  • Total issue size: ₹3,027.26 Cr 
  • Face value: ₹1 per share 
  • Listing exchange: BSE, NSE 
  • Lot size: 35 shares 
  • Promoters: Dr. Amar Agarwal, Dr. Athiya Agarwal, Dr. Adil Agarwal, Dr. Anosh Agarwal, Dr. Ashvin Agarwal, and Dr. Ashar Agarwal 

  1. What is the minimum investment for the IPO?

The minimum investment required to apply for the Dr. Agarwal’s Healthcare IPO is ₹13,370, based on the lot size of 35 shares at the lower price band of ₹382 per share. To increase your chances of allotment, applying at the upper price band would require ₹14,070 (35 shares at ₹402 per share). 


  1. What does the company do?

Dr. Agarwal’s Healthcare Limited provides a wide range of eye care services, including surgeries (cataract, refractive, corneal transplantation), consultations, diagnostics, and non-surgical treatments. 

Key highlights:

  • Operations: A strong presence in India with 193 facilities across 14 states and four union territories, plus 16 international facilities in nine African countries. 
  • Services: Advanced eye care treatments and retailing of opticals, contact lenses, and pharmaceuticals. 
  • Clientele: Over 2.13 million patients served in FY24, with 220,523 surgeries performed. 

  1. What is the objective of the IPO?

The key objectives of Dr. Agarwal’s Healthcare IPO include: 

  • Repayment or prepayment of certain borrowings, either in part or full. 
  • General corporate purposes and funding potential inorganic acquisitions. 

  1. How much is reserved for retail and other investors?

The IPO allocation is as follows: 

  • Qualified Institutional Buyers (QIBs): Up to 50% 
  • Non-Institutional Investors (NIIs): At least 15% 
  • Retail Investors: At least 35% 

  1. What are the key strengths and risks?

Strengths:

  • India’s largest eye care service provider with a trusted brand reputation. 
  • Asset-light hub-and-spoke operating model ensures scalability. 
  • Experienced leadership team of qualified doctors and professionals. 
  • Robust financial performance with growing revenues and profits. 

Risks:

  • Regulatory changes in the healthcare industry may impact operations. 
  • Credit risks associated with payments under government schemes and insurance providers. 

  1. What is the financial performance of Dr. Agarwal’s Healthcare?

The company has shown consistent financial growth over the years (₹ Cr): 

Period Ended  31 Mar 2024  31 Mar 2023  31 Mar 2022 
Assets  ₹2,752.82  ₹1,825.17  ₹1,026.13 
Revenue  ₹1,376.45  ₹1,031.49  ₹713.78 
Profit After Tax  ₹95.05  ₹103.23  ₹43.16 

  1. What is the allotment and listing timeline?

  • Basis of allotment: February 3, 2025 
  • Refund initiation: February 4, 2025 
  • Shares credited to demat accounts: February 4, 2025 
  • Listing date: February 5, 2025 

  1. Should you invest in Dr. Agarwal’s Healthcare Limited IPO?

Dr. Agarwal’s Healthcare Limited offers a strong value proposition with its leadership in India’s eye care sector, scalable business model, and consistent financial growth. However, investors must consider risks like regulatory changes and credit dependencies before investing. 

Evaluate your risk appetite and financial goals before participating in this IPO. 

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