Today, the popular eye care company, Dr Agarwal’s Healthcare, opened its Initial Public Offering (IPO) for investors to buy shares. This IPO has a lot of shares being sold by existing owners, totaling Rs 2,727 crore out of a total of Rs 3,027 crore. Investors can buy shares until January 31.
Current GMP Situation
The current Grey Market Premium (GMP) for Dr Agarwal’s Healthcare is only Rs 12, which is a small 3% higher than the IPO price. This is quite low compared to when the IPO was first announced.
IPO Price Range
The shares of Dr Agarwal’s Healthcare are available at a price between Rs 382 and Rs 402 each. Investors can bid for one lot, which includes 35 shares.
What Analysts Are Saying
Despite the high number of existing shares and the price being on the higher side, analysts suggest that investing in this IPO could be a good idea for the long term. At the highest price, the company will be valued at 134 times its expected earnings for the year 2024. After the IPO, the company’s estimated market value will be about Rs 12,698 crore. Dr Agarwal’s Healthcare also holds a strong position in the eye care market, serving 2.13 million patients and doing over 220,000 surgeries.
About the Company
Dr Agarwal’s Healthcare offers a wide range of eye care services, including surgeries for cataracts and other eye issues, check-ups, and selling eye care products. The company has captured around 25% of the eye care market in India. They have a large network, with 28 major centers and 165 smaller clinics across India.
A report by CRISIL says the Indian eye care market could grow by 12% to 14% each year from 2024 to 2028, creating a great opportunity for the company to grow and adapt to this demand.
Disclaimer: The opinions mentioned above are those of the analysts and do not represent the views of Niftystat)
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