Dr Agarwal’s Health Care IPO to open on Jan 29

New Delhi: Temasek Holdings and TPG-backed Dr Agarwal’s Health Care, an eye care services provider, on Friday, said it has fixed a price band of Rs382 to Rs402 per share for its over Rs3,027-crore initial public offering (IPO).

The firm’s maiden public issue will be open for subscription from January 29 to January 31. The bidding for anchor investors will open for a day on January 28, the company announced. The IPO is a combination of a fresh issue of up to Rs300 crore and an Offer For Sale (OFS) of up to 6.78 crore equity shares worth Rs2,727.26 crore by promoters and other selling shareholders at the upper end of the price band. This aggregates the total issue size to Rs3,027.26 crore. The offer also includes a subscription for eligible employees.

Those selling shares in the OFS include Arvon Investments Pte. Ltd, Claymore Investments (Mauritius) Pte. Ltd, and Hyperion Investments Pte. Ltd. Proceeds from the fresh issue to the tune of Rs 195 crore will be used for payment of debt and besides, a portion will be used for general corporate purposes, and unidentified inorganic acquisition.