Cyril Amarchand Mangaldas (CAM) advised Dr. Agarwal’s Health Care Limited as Indian legal counsel on its ₹3,027.26 crore initial public offering of 75,304,970 equity shares at ₹402 per share.
CAM also advised the Promoter Selling Shareholders and Other Selling Shareholders in their offer for sale of 13,855,532 equity shares aggregating to ₹556.992 crore, pursuant to the Offer.
The transaction team was led by Yash J. Ashar, Senior Partner; Reuben Chacko, Partner (Regional Co-Head - Capital Markets - South); Abhiroop Lahiri, Partner; with support from Tanvi Kini, Principal Associate; Sravya Surapaneni, Senior Associate; Vishesh Jain, Associate; Anna Kallivayalil, Associate; Rakshitha V, Associate; and Julia Joseph, Associate.
Team representing Promoter Selling Shareholders: Vartika Jain, Counsel; and Surya Rajkumar, Associate.
Ashwin Sapra, Partner (Head- Pharma & Healthcare) advised on certain sector specific aspects of the transaction.
The IPO comprised of a fresh issue of 7,462,686 equity shares aggregating to ₹300 crore and offer for sale by certain selling shareholders of 67,842,284 equity shares aggregating to ₹2,727.26 crore.
Dr. Agarwal's Healthcare launched its Initial Public Offering (IPO) on January 29, 2025, and it closed on January 31, 2025. The shares were listed in the exchange on February 4.
The company intends to use the proceeds from the fresh issue to repay borrowings, fund inorganic acquisitions, and for general corporate purposes.
Dr Agarwals Eye Hospital provides a comprehensive range of eye care services, including cataract, refractive and other surgical procedures, along with consultations, diagnostics, non-surgical treatments, and sales of optical products, contact lenses, accessories, and eye care related pharmaceutical products.
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