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Investors Sell Dr Agarwal's Eye Care Stake for ₹2,000 Cr
13 Aug
Summary
- TPG and Temasek sold a 12.64% stake for Rs 2,008 crore.
- Several mutual funds and investment firms bought a significant stake.
- The sale occurred after strong quarterly financial results were reported.
Global investors TPG and Temasek recently sold a substantial 12.64% stake in Dr Agarwals Health Care, a prominent eye care chain. This divestment involved over four crore equity shares, with a total transaction value reaching Rs 2,008 crore. The shares were offloaded at prices ranging from Rs 501.03 to Rs 501.54.
Following the block deal, TPG's holding decreased from 23.09% to 15.47%, while Temasek's stake reduced from 10.19% to 5.17%. Despite the sale, both entities remain significant public shareholders. Key institutional investors such as ICICI Prudential Mutual Fund, Invesco Mutual Fund, Polar Capital, and Allianz Global Investors were among the buyers, collectively acquiring approximately 5% of the company's shares.
The stake sale occurred shortly after Dr Agarwals Health Care reported impressive financial results for the June quarter. The company's consolidated profit after tax surged by 44.6% year-on-year to Rs 55.02 crore, with revenue climbing 26% to Rs 614.02 crore. This period also marked the company's largest quarterly expansion, adding 304 facilities across 10 countries.
TPG and Temasek had initially invested in Dr Agarwals Health Care in 2022, supporting its growth through a significant fundraise. The company's initial public offering in February 2025 was priced at Rs 402 per share. The recent stake sale valued the shares at approximately 25% above their IPO price, reflecting the company's market position with an estimated 25% share of India's organized eye care services market.
