CHENNAI: Temasek Holdings and TPG-backed eye care services Dr Agarwal Health Care have filed their draft red herring prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO).
The IPO with a face value of Re 1 per equity share is a mix of a fresh issue of up to Rs 300 crore and an offer for sale of up to 69,568,204 equity shares by the promoter and other selling shareholders.
The offer also includes a subscription reservation for eligible employees, as per a release.
The offer for sale consists of up to 2,253,913 equity shares by Dr Amar Agarwal and up to 2,704,696 equity shares by Dr Athiya Agarwal, up to 2,961,614 Equity Shares by Dr Adil Agarwal, up to 5,242,630 equity shares by Dr Anosh Agarwal, up to 230,035 equity shares by Dr Ashvin Agarwal, up to 1,963,172 equity shares by Dr Agarwal's Eye Institute, up to 7,083,010 equity shares by Arvon Investments Pte.
Ltd, up to 16,148,150 equity shares by Claymore Investments (Mauritius) Pte Ltd, up to 30,755,592 equity shares by Hyperion Investments Pte Ltd, up to 112,696 equity shares by Farah Agarwal, and upto 112,696 equity shares by Urmila Agarwal.
The company, in consultation with the book-running lead managers, may consider a pre-IPO placement of specified securities that shall not exceed 20 per cent of the size of the fresh issue. If such placement is completed, the fresh issue size will be reduced.
The Offer is being made through the book-building process, wherein not more than 50 per cent of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15 per cent of the net offer shall be available for allocation to non-institutional bidders, and not less than 35 cent of the net offer shall be available for allocation to retail individual bidders, it said.
The proceeds from the fresh issue to Rs 195 crore for repayment/prepayment, in part or full, of certain of its borrowings; general corporate purposes, and unidentified inorganic acquisition.