The offer floor price has been set at ₹500 per share, a 7.7% discount to the last closing price. The base deal size is ₹1,750 crore, with an upsize option of 2% worth ₹250 crore.
Last week, Dr Agarwal’s Health Care said it is leaning harder into higher-priced surgeries to keep its growth engine running, even as the eye-care chain invests in new facilities across the country.
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Adil Agarwal, CEO, Agarwal’s Health Care said, “We are seeing increased adoption by our patients for all the high-end procedures, such as the Femto cataract surgeries, or the lenticular procedures for glass correction.
We are seeing at least a 5% upside year-on-year based on this kind of premiumisation, which is happening, and these are delivering superior clinical results, which is why you are seeing better patient adoption.”
The company said around half of its 16.3% same-store sales growth in the June quarter came from higher patient volumes, while the remaining half was driven by premiumisation. Walk-ins and surgeries across cataract, retina and refractive care also continued to rise during the quarter.
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In the April-June quarter (Q1FY27), Agarwal’s Health Care reported revenue of ₹614 crore, profit of ₹55 crore and margin of 27.80%. The company believes it can maintain the margins reported in the June quarter, subject to achieving sales growth of around 13-14% during the year.
Dr Agarwal’s Health Care added 18 facilities during the first quarter and remains on track to open more than 40 centres in FY27. The company has been hiring doctors ahead of demand, particularly in North and West India, where it is expanding its presence.Management expects utilisation at these centres to improve gradually as the hospitals mature and build patient confidence.
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On market share, the company said consolidation in the fragmented eye-care industry should continue over the next few years. It aims to increase its share among organised players as it expands its footprint across the country.
“We hopefully will get to about 27-28% in the next three years,” Agarwal said.
Shares of Dr Agarwals Health Care Ltd ended at ₹542.75, down by ₹19.30, or 3.43%%, on the BSE.
