Dr. Agarwal’s Health Care Limited – Globe Capital Market LTD.
Dr. Agarwal’s Health Care Limited
Closed
Price Band
₹382 to ₹402 per share
IPO Issue Period
January 29, 2025 to January 31, 2025
Issue Size
₹3,027.26 Cr
Face value
₹1 per share
Fresh issue
₹ 300.00 Cr
Offer for sale
₹2,727.26 Cr
Minimum Shares for Retail
35 Shares
Listing on
BSE, NSE
Issue Type
Book Built Issue IPO
Registrar to the Issue
Kfin Technologies Limited
Tentative Listing Date
Wednesday, February 5, 2025
QIB
50%
NII
15%
Retail
35%

Kotak Mahindra Capital Company Limited
Morgan Stanley India Company Pvt Ltd
Jefferies India Private Limited
Motilal Oswal Investment Advisors Limited

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, there were 737 doctors providing care to patients across the company’s facilities. During this period, the company served 2.13 million patients and 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. (Source: As per RHP)

For the year/period ended (Rs. in Cr.)

FY24 FY23 FY22
Total Revenue 1,376.45 1,031.49 713.78
Profit After Tax 95.05 103.23 43.16
EPS 3.14 4.01 1.83
OPM (%) 29.54% 27.52% 27.99%
PATM (%) 6.91% 10.01% 6.05%

 

For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
FY23
Net Profits(Cr.)
FY23
Dr. Agarwal’s Health Care Limited 12698 402 7.05 128 1,376.45 95.05
Apollo Hospitals Enterprise Ltd. 96,967 6,744 12.94 81.96 19,059.20 917
Max Healthcare Institute Ltd. 1,02,477 1,054 11.65 96.77 5,406.02 1,057.64
Narayana Hrudayalaya Ltd. 26,668 1,305 8.32 34.25 5,018.25 789.62

*Market cap @upper band

 

  • 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
  1. Repayment/prepayment, in part or full, of certain of the borrowings and
  2. General corporate purposes and unidentified inorganic acquisition.

The company is engaged in eye care business providing all eye health related treatments. The Company has nearly 25% market share in its business of eye-care related services. Based on recent financial performance, the issue appears aggressively priced. Hence, investor may subscribe for long term considering future prospects.

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