General Atlantic-backed ASG Eye Hospital appoints bankers for Rs 3,900-crore IPO

ASG Eye Hospital IPO News

ASG Eye Hospital, backed by private equity major General Atlantic, has appointed investment bankers as it prepares to access the capital markets through an initial public offering (IPO) worth $500-600 million (around Rs 3,900 crore), people familiar with the matter said on Friday.

Investment banks mandated for the proposed offering include Axis Capital, Morgan Stanley, Nomura, Motilal Oswal and HSBC, they added.

People familiar with the matter said the IPO is expected to value the company at about $3.4 billion, resulting in roughly 15 percent equity dilution for existing shareholders.

Separately, ASG has outlined capital expenditure of around Rs 2,000 crore through 2030 as it looks to expand its footprint across India.

Click Here To Read All IPO News

The company plans to scale up its network over the rest of the decade, targeting between 500 and 700 centres by 2030 through a combination of organic expansion and acquisitions.

The expansion strategy aligns with broader demand trends in the country's eye-care segment, including an ageing population, the rising prevalence of lifestyle-related eye disorders, and the gradual shift towards organised healthcare providers beyond major metropolitan markets.

ASG's operating model focuses on combining tertiary eye-care services with outreach in tier-II and tier-III cities, enabling the chain to scale while serving relatively underserved regions.

In recent years, the company has completed several acquisitions, with a particular focus on regional players to build scale and deepen its presence in key markets. The merger with Sharp Sight is the latest transaction aimed at strengthening its clinical capabilities and geographic reach ahead of the planned public offering.