Temasek-backed Dr Agarwal's Health Care IPO Garners 7% on Day One

Dr Agarwal's Health Care, backed by Temasek Holdings and TPG, launched its IPO with 7% subscription on the first day. They offered 5.35 crore shares with bids for 38 lakh+ shares received. The issue price ranges from Rs 382 to Rs 402. Funds will address debt and corporate needs.

Dr Agarwal's Health Care Ltd, an eye care service provider backed by Temasek Holdings and TPG, launched its initial public offering (IPO) with a 7% subscription on the first day of bidding on Wednesday.

The public issue attracted bids for over 38 lakh shares against the 5.35 crore shares on offer, according to NSE data. Retail individual investors accounted for an 11% subscription, while non-institutional investors subscribed at 6%.

Dr Agarwal's, having raised Rs 875.5 crore from anchor investors on Tuesday, set the IPO price band between Rs 382 and Rs 402 per share, closing on January 31. Proceeds will offset Rs 195 crore in debt, with the IPO comprising a Rs 300 crore fresh issue and a Rs 2,727.26 crore Offer For Sale.

(With inputs from agencies.)