Dr Agarwal's Health Care Makes Flat Market Debut at ₹402 IPO Price

Dr Agarwal's Health Care Ltd shares listed at ₹402 on the NSE and ₹396.90 (1.27% discount) on the BSE on February 4, 2025, mirroring its IPO price band of ₹382-402. The ₹3,027-crore IPO saw 1.55x subscription, driven by QIBs (4.64x), while retail/NII segments lagged below 1x. The eye care chain’s market valuation settled at ₹12,537 crore post-listing. Analysts attributed the muted debut to rich valuations (134x FY24 EPS) and cautious investor sentiment. The company plans to use ₹195 crore from proceeds for debt repayment, with remaining funds allocated for expansion.

Source: Moneycontrol, CNBC TV18, Business Standard – February 4, 2025