Dr. Agarwal’s Health Care IPO Details, Financials, Valuation & Peers
Explore Dr. Agarwal’s Health Care IPO details, including IPO dates, financial statements, valuation, peer comparison and more.
Overview
Dr. Agarwal’s Health Care Limited offers a wide range of treatments, including cataract and refractive surgeries, consultations, diagnostics, non-surgical treatments, and the sale of optical products and eye care pharmaceuticals. With a market share of approximately 25% in India’s organized eye care service chain segment as of FY 2024, Dr. Agarwal’s operates the largest network of eye care service facilities in the country. As of September 30, 2024, the company operated 209 facilities across India, categorized into Primary, Secondary, and Tertiary Facilities under a scalable hub-and-spoke model. This structure allows for deep market penetration and resource efficiency, enhancing accessibility and patient outcomes. The company also has an international presence with 16 facilities across nine countries in Africa. Backed by strong institutional investors such as Temasek Holdings and TPG.
Key Points:
- Eye Care Services
- Surgeries: Cataract, refractive (LASIK, SMILE, implantable collamer lens), surgical retinal treatments, corneal transplantation, oculoplasty, glaucoma, and other specialized procedures.
- Consultations, Diagnostics, and Non-Surgical Treatments: Retinal laser therapy, dry eye treatment, and other ophthalmic solutions.
- Optical and Pharmaceutical Sales: Glasses, contact lenses, frames, and prescribed eye care-related pharmaceutical products.
- Network in India
- 209 facilities across 117 cities in 14 states and four union territories.
- Hub-and-Spoke Model:
- 28 hubs (Tertiary Facilities): Super-specialty surgical centers, including three Centers of Excellence (COEs).
- 165 spokes:
- 53 Primary Facilities: Non-surgical diagnostic and consultation services.
- 112 Secondary Facilities: Cataract surgeries and other select treatments.
- COEs provide advanced treatment, academic programs, and continuous training for doctors and optometrists.
- International Expansion
- Operations in nine African countries with 16 facilities.
- Services include treatments for cataracts, glaucoma, diabetic retinopathy, retinal detachment, refractive surgeries, and pediatric and neuro-ophthalmology.
Objects of the Issue
- Repayment/prepayment, in part or full, of certain of our borrowings
- General corporate purposes and unidentified inorganic acquisition
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 29 Jan - 31 Jan 2025 |
| IPO Price Band | ₹382 - ₹402 per share |
| Fresh Issue | ₹300 crore |
| Offer For Sale | 67,842,284 shares (₹2,727.26 crore) |
| Total IPO Size | ₹3,027.26 crore |
| Face Value | ₹1 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 29 Jan 2025 |
| IPO Closing Date | 31 Jan 2025 |
| Basis Of Allotment | 03 Feb 2025 |
| Refunds | 04 Feb 2025 |
| Demat Transfer | 04 Feb 2025 |
| IPO Listing Date | 05 Feb 2025 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Sep 2024 |
|---|---|---|---|---|
| Total Income | 713.78 | 1,031.49 | 1,376.45 | 837.94 |
| Total Expenses | 657.02 | 947.90 | 1,235.88 | 777.59 |
| Net Profit/Loss | 43.16 | 103.23 | 95.05 | 39.56 |
| NPM (*) | 6.05 | 10.01 | 6.91 | 4.72 |
| Total Assets | 1,026.13 | 1,825.17 | 2,752.82 | 3,393.41 |
| Total Liabilities | 792.31 | 1,166.10 | 1,373.31 | 1,835.28 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Sep 2024 |
|---|---|---|---|---|
| EPS | 1.83 | 4.00 | 3.13 | 1.00 |
| ROE (%) | 19.96 | 23.12 | 9.33 | 2.69 |
| ROCE (%) | 15.02 | 15.18 | 14.61 | 8.30 |
| D/E Ratio | 2.71 | 1.30 | 0.70 | 0.66 |
| Current Ratio | 1.10 | 1.03 | 1.90 | 1.62 |
| EBITDA MARGIN (%) | 27.99 | 27.52 | 29.54 | 27.27 |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Revenue | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Dr. Agarwal's Health Care Limited | 1,332.15 | 128.43 | 3.13 | 6.21 | 50.53 |
| Apollo Hospitals Enterprise Limited | 19,059.20 | 107.11 | 62.50 | 12.97 | 481.93 |
| Max Healthcare Institute Limited | 6,849.00 | 95.88 | 10.84 | 12.58 | 86.54 |
| Fortis Healthcare Limited | 6,892.92 | 82.11 | 7.93 | 7.82 | 101.48 |
| Global Health Limited | 3,275.11 | 57.49 | 17.80 | 16.46 | 108.17 |
| Narayana Hrudayalaya Limited | 5,018.25 | 33.14 | 38.86 | 27.37 | 141.98 |
| Krishna Institute of Medical Sciences Limited | 2,498.14 | 79.79 | 7.75 | 16.96 | 228.47 |
| Aster DM Healthcare Limited | 3,698.90 | 136.07 | 3.60 | 3.63 | 71.62 |
| Rainbow Children's Medicare Limited | 1,296.90 | 67.90 | 21.38 | 17.24 | 124.03 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
IPO Reservation
| Investor Type | Shares Offered |
|---|---|
| Qualified Institutional Buyer (QIB) | Not more than 50% |
| Non-Institutional Investor (NII/HNI) | Not less than 15% |
| Retail Individual Investor (RII) | Not less than 35% |
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 4.41 |
| Non-Institutional Investor (NII/HNI) | 0.39 |
| Retail Individual Investor (RII) | 0.42 |
| Total | 1.49 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
KFin Technologies Limited
Phone: +91 40 6716 2222/ 18003094001
Email: einward.ris@kfintech.com
Website: www.kfintech.com
Company Promoters
- DR. AMAR AGARWAL
- DR. ATHIYA AGARWAL
- DR. ADIL AGARWAL
- DR. ANOSH AGARWAL
- DR. ASHVIN AGARWAL
- DR. ASHAR AGARWAL
- DR. AMAR AGARWAL FAMILY TRUST
- DR. ADIL AGARWAL FAMILY TRUST
- DR. ANOSH AGARWAL FAMILY TRUST
- DR. ASHVIN AGARWAL FAMILY TRUST
- DR. ASHAR AGARWAL FAMILY TRUST
- DR. AGARWAL’S EYE INSTITUTE
- DR. AGARWAL'S EYE INSTITUTE PRIVATE LIMITED
Lead Managers
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Private Limited
- Jefferies India Private Limited
- Motilal Oswal Investment Advisors Limited
Company Address
Dr. Agarwal’s Health Care Limited
1 st Floor, Buhari Towers, No.4, Moores Road, Off Greams Road, Near Asan Memorial School, Chennai 600 006, Tamil Nadu, India
Phone: +91 44 4378 7777
Email: www.dragarwals.co.in
Website: www.dragarwals.co.in
FAQs
- What is the issue size of the Dr. Agarwal’s Health Care IPO?The Dr. Agarwal’s Health Care IPO has an issue size of ₹3,027.26 crore. This includes a fresh issue of ₹300 crore and an offer for sale (OFS) of 67,842,284 shares (₹2,727.26 crore).
- What is the price band of the Dr. Agarwal’s Health Care IPO?The price band for the Dr. Agarwal’s Health Care IPO is ₹382 - ₹402 per share.
- What are the bidding dates for the Dr. Agarwal’s Health Care IPO?The Dr. Agarwal’s Health Care IPO will open for bidding on 29 Jan 2025 and close on 31 Jan 2025.
- What is the allotment date for the Dr. Agarwal’s Health Care IPO?The allotment date for the Dr. Agarwal’s Health Care IPO is 03 Feb 2025.
- What is the minimum lot size and investment required for the Dr. Agarwal’s Health Care IPO?The minimum lot size for the Dr. Agarwal’s Health Care IPO is 35 shares and the minimum investment required is ₹14,070.
- What is the listing date for the Dr. Agarwal’s Health Care IPO?The listing date for the Dr. Agarwal’s Health Care IPO is 05 Feb 2025.
- What is the Dr. Agarwal’s Health Care IPO grey market premium?The grey market premium (GMP) for the Dr. Agarwal’s Health Care IPO is currently at ₹0, with an expected listing gain of approximately 0%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.