Eye care chain Dr. Agarwal’s Health Care, Casagrand Premier Builder get Sebi nod for IPOs totaling Rs 1,400 crore
markets are set to witness significant primary market activity, as Dr. Agarwal’s Health Care, a leading eye care services provider, and Casagrand Premier Builder, the largest residential developer in Chennai, have both received final approval from the Securities and Exchange Board of India (Sebi) to raise a combined Rs 1,400 crore through their initial public offerings (IPOs).
Dr. Agarwal’s Health Care has received approval from Sebi for its IPO, which consists of a fresh issue of up to Rs 300 crore and an offer for sale (OFS) of over 6.96 crore equity shares by promoters and other selling shareholders. The funds raised will be utilized for repayment of borrowings and general corporate purposes. Filed with Sebi on September 27,the IPO will carry a face value of Re 1 per equity share, and a portion of the issue is reserved for eligible employees.
Meanwhile, Casagrand Premier Builder has secured Sebi approval for its IPO to raise Rs 1,100 crore through a combination of a fresh issue of Rs 1,000 crore and an offer for sale of Rs 100 crore by promoters. The proceeds will be used for repaying borrowings, both for the company and its subsidiaries. The IPO, which was filed on September 19, has a face value of Rs 2 per share.
Temasek Holdings and TPG-backed eye care services provider Dr. Agarwal Health Care operates 180 facilities across India, with a significant presence in South India. As of FY24, Dr. Agarwal’s Health Care commands 25% of India’s organized eye care market. The company is well-known for its high-quality
