Dr Agarwal’s Well being Care’s IPO will get approval from SEBI, TPG and Temasek have invested cash. – INA NEWS

Dr Agarwal’s Healthcare IPO: Dr. Aggarwal’s Healthcare, which gives eyecare companies, has obtained approval from capital market regulator SEBI for its IPO. Moneycontrol has come to learn about this from sources. The corporate had submitted draft papers for the IPO on September 27. TPG and Temasek Holdings have additionally invested within the firm. Dr Agarwals Healthcare is the guardian firm of listed firm Dr Agarwals Eye Hospital. Dr. Agarwal’s Healthcare holds 71.90 p.c stake in Dr. Agarwal’s Eye Hospital.

A supply stated, “Approval has been obtained from SEBI for the IPO of Dr. Aggarwal’s Healthcare. However no ultimate resolution has been taken but. Relying in the marketplace situations and different components, the difficulty will probably be launched in late January or February. “Might be launched after the Union Funds.”

New shares price Rs 300 crore in IPO

In accordance with the draft papers, new fairness shares price Rs 300 crore will probably be issued within the IPO, together with a suggestion on the market (OFS) of 6.95 crore fairness shares from promoters and buyers. Other than the promoter group, TPG and Temasek would be the promoting shareholders within the OFS. Promoters maintain 37.83 p.c stake in Dr. Aggarwal’s Well being Care. The promoters of the corporate are Amar Agarwal, Athiya Agarwal, Adil Agarwal, Anosh Agarwal, Ashwin Agarwal, Dr. Agarwal’s Eye Institute, Farah Agarwal and Urmila Agarwal.

TPG holds 33.75 per cent stake in Dr Aggarwal’s Well being Care by means of Hyperion Investments Pte, whereas Temasek holds 12.45 per cent by means of Arvon Investments Pte and 15.73 per cent by means of Claymore Investments (Mauritius) Pte. The service provider bankers to the difficulty are Kotak Mahindra Capital, Jefferies, Morgan Stanley and Motilal Oswal.

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How will Dr Agarwal’s Healthcare IPO cash be used?

The corporate will use Rs 195 crore of the cash raised by issuing new shares within the IPO to repay the mortgage. The remaining cash will probably be used for normal company functions and inorganic acquisitions. With 165 services in India and 15 globally (together with 9 in Africa), Tamil Nadu-based Dr. Agarwal’s Healthcare affords eyecare companies corresponding to cataract, refractive and different surgical procedures. Other than this, it additionally sells spectacles, contact lenses and equipment, and eyecare associated pharma merchandise. Its share within the whole eyecare service chain market in India throughout FY 2024 was about 25 p.c.

Income elevated by 31% in FY24

Dr Agarwal’s Healthcare had a consolidated debt of Rs 384 crore by July 2024. The corporate’s web revenue declined by 7.9 p.c to Rs 95 crore in FY 2024. A 12 months in the past it was Rs 103.2 crore. Income from operations grew 30.9 per cent to Rs 1,332 crore in FY23 from Rs 1,018 crore. EBITDA grew 34 per cent to Rs 362.3 crore and margin expanded 0.6 bps to 27.2 per cent.

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