Dr Agarwal's Health Care shares make flat stock market debut, list at IPO price of Rs 402

Dr Agarwal's Health Care shares listed with a discount of 1.27 percent on the BSE at Rs 396.90 per share against its IPO price of Rs 402.

Dr Agarwal’s Health Care shares listed flat on the stock exchanges on January 4. The shares were listed following a subscription of 1.55 times to its initial public offer in the primary market between January 29 - 31.

Dr Agarwal's Health Care shares were listed at Rs 402 per share on the NSE. Shares of the company were listed at Rs 396.90 apiece on the BSE with a discount of 1.27 percent. Post listing of shares, the market valuation of the company stood at Rs 12,537.27 crore. The public issue worth Rs 3,027-crore had a price band of Rs 382-402 per share.

Earlier, the company raised over Rs 875.5 crore from anchor investors. However, the retail and non-institutional investor (NII) segments saw below 1x subscription, reflecting cautious investor sentiment amid ongoing market volatility.

Dr Agarwal's Health Care IPO listing advanced to Feb 4; shares may see tepid gains - should you buy, sell or hold?

Dr Agarwal’s Health Care IPO GMP was trading flat in the unregulated market on the day of listing. Prashanth Tapse, Senior VP Research at Mehta Equities Ltd, said, "The subdued response was largely due to weak market sentiment. While the company holds a dominant 25 percent market share in India’s organised eye care sector, we anticipate a flat to slightly negative listing."

He added that investors who were allotted shares may hold them for the long term, while those who missed out should wait and watch for post-listing price stability.

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Proceeds from the fresh issue to the tune of Rs 195 crore will be used for payment of debt. Besides, a portion will be used for general corporate purposes and unidentified inorganic acquisitions.

As of September 2024, the company's network consisted of 193 facilities with a majority concentration in South India, particularly Chennai, Hyderabad and Bengaluru, followed by Western India.

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