Dr Agarwal Healthcare IPO Day 2 GMP Highlights (Day 2): Check subscription status, GMP, listing date and more

• Qualified Institutional Buyers (QIBs) -- 0.95 times
• Non Institutional Investors(NIIS) -- 0.10 times
• Retail Individual Investors (RIIs) -- 0.22 times
• Employee Reserved -- 0.16 times
• Reservation Portion Shareholder - 0.23 times
• Total -- 0.39 times

StoxBox has expressed caution regarding the issue, citing overvaluation compared to listed peers, inconsistent financial performance, and a high proportion of the offer-for-sale (OFS). "Given these factors, we recommend an 'avoid' rating for the IPO. However, we will reassess our stance based on the company's sustained business performance in the upcoming quarters," the firm stated.

• Ashwini Vaishnaw: We believe that there are at least 6 major developers who can develop AI models in the 6-8 months on the outer limit, and 4-6 months on a more optimistic estimate
• Ashwini Vaishnaw: Algorithmic efficiency can develop models can develop on a much lower cost.
• Ashwini Vaishnaw: We are confident that using these techniques we an develop a high class model in the coming months.
• Ashwini Vaishnaw: Many researchers have worked on algorithmic efficiency. through these discussion s we have been able to figure out that there is a lot of innovation yet to be done in the space.
• Ashwini Vaishnaw: In the IndiaAI Mission, another major pillar was to develop applications that can solve population scale problems -- healthcare, logistics, agriculture, flood forecasting etc.
• Ashwini Vaishnaw: We had launched the applications proposals. 18 applications have been selected for first round of funding. They are in three themes -- agriculture, climate change and learning disability
• Ashwini VAishnaw: Rates for GPU access is very competitive. Average rate of compute power of Rs 115.85 per GPU hour. Global average is about USD 2.5 - 3
• We will be giving 40 per cent subsidy, to our researchers, academia -- Which means for them it will be available at less than Rs 100 per hour

• Ashwini Vaishnaw: In the safe and trusted pillar of IndiaAI Mission, and based on discussions that we had in GPAI Summit, and based on other discussions, we are also announcing that the AI safety institution will be started.
• Unlike in other countries where AI institutions was put in an institution, we decided that we will create it in and hub and spoke model --where multiple institutions and collaborate to provide tools, processes that are needed for AI safety

• Ashwini Vaishnaw: Roughly, 10,000 GPUs (out of the 18,693) are available today.
• The technical partners started working well before, started investing well before.
• Ashwini Vaishnaw: We will start the use of the common compute facility in a couple of days. It will be there for everyone to use.
• Ashwini Vaishnaw: The second big mission of the IndiaAI mission was to develop an AI model. Our teams have been working with startups, academia.
• We have now created the framework which will be launched today. We are calling for proposals to develop our own foundational models, where the Indian context, the Indian languages, the culture of our country where the biases can be removed. Where the datasets, for our country, for our citizens -- that process wills tart today

• Our startups researchers, academia, they all want to access compute facility. that's why in the india ai mission we have taken the common compute as the most important part of the mission.
• I am very happy to say, that against 10,000- gpus, we have actually empanelled 18,693 gpus
• 12,896 ar h100s, 1,480 are h200s -- the most powerful GPUs.
• Overall net high end GPUs we have 15,000 GPUs in the entire process.
• To give context, DeepSeek was trained on 2,000 GPUs
• Ashwini Vaishnaw: This will be used for creating AI models, distillation processes, new algorithms

Shapoorji Pallonji Group is nearing a deal with a group of global alternative asset investors to refinance its outstanding debt of approximately $3.2 billion, sources directly aware of the transaction told Moneycontrol. A large portion of the loan is linked to SP Group's promoter entity, Sterling Investments Pvt Ltd, which secured $2.6 billion in 2021 from alternative investment manager Ares Management and hedge fund Farallon Capital with a tenor of three and a half year. (Read More)

• Qualified Institutional Buyers (QIBs) - 0.00 times
• Non Institutional Investors(NIIS) -- 0.07 times
• Retail Individual Investors (RIIs) -- 0.16 times
• Employee Reserved -- 0.12 times
• Reservation PortionShareholder -- 0.19 timesTotal -- 0.10 times

As per a Crisil MI&A report cited in its red herring prospectus, Dr Agarwal's Health Care accounted for approximately 25% of India's total eye care service chain market in FY24. The company operates using a hub-and-spoke model with an asset-light approach.

Dr Agarwal's Health Care is a leading eye care service provider in India, catering to all ophthalmic needs. The company plans to expand its presence nationwide by establishing new facilities, enhancing its reach, and serving more patients. Additionally, it aims to strengthen its brand image, expand market presence, and boost visibility, according to Anand Rathi Research.

The IPO is priced at 134 times its FY24 EPS, valuing the company at Rs 12,698.37 crore post-equity issuance. Its market cap-to-sales ratio stands at 9.5 times based on FY24 earnings. With a dominant market share in the eye care sector, the research firm has given the IPO a ‘subscribe for long-term’ rating.

For the six months ending September 30, 2024, Dr. Agarwal's Health Care posted a net profit of Rs 39.56 crore on a revenue of Rs 837.94 crore. The company holds a total market capitalisation of Rs 12,698.37 crore. Recently, it was reported to have a grey market premium (GMP) of just Rs 12 per share, indicating a modest 3% gain for investors.

Shares of CLN Energy were listed on the BSE SME platform at Rs 256 per share on January 30. This marks a premium of 2.4 percent over its IPO price of Rs 250 per share.  (Read More)

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As of January 30, 2025, there is no trend around grey market premium for CLN Energy SME IPO. This means that with a price band of Rs 250, the estimated listing price remains Rs 250.

Aryaman Financial Services Ltd serves as the book-running lead manager for the CLN Energy IPO, while Bigshare Services Pvt Ltd is the designated IPO registrar.

CLN Energy's IPO saw an overall subscription of 5.42 times. The public issue was subscribed 6.55 times in the retail category, 1.07 times by Qualified Institutional Buyers (QIBs), and 8.6 times in the Non-Institutional Investors (NII) category.

CLN Energy's IPO is set to debut on the stock market today. The public offering, which opened for subscription on January 23, concluded on January 27. Stay tuned for live updates on the CLN Energy IPO listing.

Prior to its IPO, Dr Agarwal's Health Care raised Rs 875.5 crore through its anchor book, allotting 2.17 crore shares at Rs 402 per share. The anchor investors included prominent names such as Goldman Sachs, Morgan Stanley, Tocu Europe, the Government of Singapore, the Monetary Authority of Singapore, the Government Pension Fund Global, Fidelity, Nomura, HSBC Global, and others.

Dr Agarwal's Health Care's Rs 3,027.26 crore IPO comprises a fresh issue of Rs 300 crore and an offer-for-sale (OFS) of up to 6,78,42,284 shares valued at Rs 2,727.26 crore by its promoters and existing shareholders. The net proceeds from the offering will be used for debt repayment or prepayment, general corporate purposes, and potential inorganic acquisitions.

Founded in 2010 and based in Chennai, Dr Agarwal's Health Care provides a wide range of eye care services, including cataract and refractive surgeries, consultations, diagnostics, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and eye care-related pharmaceuticals.

Dr Agarwal’s Health Care’s initial public offering (IPO), which opened on Wednesday, received a tepid response, with a subscription of just 7% across all investor categories. The Rs 3,025 crore IPO is priced between Rs 382 and Rs 402 per share and will close on January 31. Investors can bid for a minimum lot of 35 shares.