S&R Associates Advised Book-Running Lead Managers On Dr. Agarwal’s Health Care IPO

S&R Associates Advised Book-Running Lead Managers on Dr. Agarwal’s Health Care IPO

S&R Associates advised Kotak Mahindra, Morgan Stanley India, Jefferies India, and Motilal Oswal Investment Advisors, the book-running lead managers, on the INR 30.27 billion initial public offering (IPO) of Dr. Agarwal’s Health Care Limited, a leading eye care services chain in India.

Founded in 2010 and based in Chennai, Dr. Agarwal's Health Care provides a comprehensive range of eye care services, including cataract and refractive surgeries, consultations, diagnostics, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and pharmaceutical eye care products.

The Rs 3,027.26 crores IPO comprises a fresh issue of shares worth Rs 300 crores and an offer-for-sale (OFS) of up to 6,78,42,284 shares, amounting to Rs 2,727.26 crores, by the company’s promoters and existing shareholders. The net proceeds from the IPO will be used for repayment/prepayment of borrowings, general corporate purposes, and potential inorganic acquisitions.

The S&R Associates team advising on the transaction was led by Partners Sandip Bhagat and Jabarati Chandra and included Associates Ishan Seth, Sudipta Choudhury, Abhishek Gupta and Varda Saxena.