Latest News | Dr Agarwal's Health Care Shares Make Muted Market Debut; Decline over 1 Pc on BSE
Get latest articles and stories on Latest News at LatestLY. Shares of Dr Agarwal's Health Care Ltd made a muted market debut on Tuesday, listing with a discount of over 1 per cent on the BSE, against the issue price of Rs 402.
New Delhi, Feb 4 (PTI) Shares of Dr Agarwal's Health Care Ltd made a muted market debut on Tuesday, listing with a discount of over 1 per cent on the BSE, against the issue price of Rs 402.
The stock listed at Rs 396.90, down 1.26 per cent from the issue price on the BSE. Later, it hit a high of Rs 412.75 and a low of Rs 376.40 during the morning trade.
At the NSE, the stock was listed at par with the issue price of Rs 402.
The company's market valuation stood at Rs 11,929.20 crore.
The initial public offer of Dr Agarwal's Health Care Ltd got subscribed 1.55 times on the closing day of bidding on Friday.
The Rs 3,027.26-crore public issue had a price band of Rs 382-402 per share.
The IPO had a fresh issue of up to Rs 300 crore and an Offer-for-Sale (OFS) of up to 6.78 crore equity shares worth Rs 2,727.26 crore by promoters and other selling shareholders at the upper-end of the price band.
Proceeds from the fresh issue to the tune of Rs 195 crore will be used for the payment of debt. Besides, a portion will be used for general corporate purposes and unidentified inorganic acquisitions.
Dr Agarwal's Health Care offers a wide array of services, including cataract, refractive, and other surgeries, consultations, diagnosis, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and eye care-related pharmaceutical items.
As of September 2024, its network consisted of 193 facilities with a majority concentration in South India, particularly Chennai, Hyderabad and Bengaluru, followed by Western India.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)