New Delhi, Jan 30 (PTI) The initial public offer of Dr Agarwal's Health Care Ltd got subscribed 42 per cent on the second day of bidding on Thursday.

The public issue received bid for 2,25,71,920 shares against 5,35,26,172 shares on offer, as per NSE data.

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The category for Qualified Institutional Buyers (QIBs) received 1.01 times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 23 per cent and the portion for non-institutional investors fetched 12 per cent subscription.

Dr Agarwal's Health Care on Tuesday said it has raised over Rs 875.5 crore from anchor investors.

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The Rs 3,027.26-crore public issue has a price band of Rs 382 to Rs 402 per share.

The IPO is a combination of a fresh issue of up to Rs 300 crore and an Offer For Sale (OFS) of up to 6.78 crore equity shares worth Rs 2,727.26 crore by promoters and other selling shareholders at the upper end of the price band.

Those selling shares in the OFS include Arvon Investments Pte Ltd, Claymore Investments (Mauritius) Pte Ltd and Hyperion Investments Pte Ltd.

Proceeds from the fresh issue to the tune of Rs 195 crore will be used for payment of debt. Besides, a portion will be used for general corporate purposes and unidentified inorganic acquisitions.

Dr Agarwal's Health Care offers a wide array of services, including cataract, refractive, and other surgeries, consultations, diagnosis, non-surgical treatments, and the sale of optical products, contact lenses, accessories, and eye care-related pharmaceutical items.

As of September 2024, its network consisted of 193 facilities with a majority concentration in South India, particularly Chennai, Hyderabad and Bengaluru, followed by Western India.

Kotak Mahindra Capital Company, Morgan Stanley India Company, Jefferies India and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.

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