Diagnostics Company Agilus Diagnostics files DRHP with SEBI for the proposed IPO; Key Details here

Agilius Diagnostics is into Healthcare Diagnostics and is looking raise funds through Offer for Sale

Agilius Diagnosticsand Offer of Sale of 14,233,964 Equity Shares through public issue IPO

Agilius Diagnostics IPO: Agilus Diagnostics Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Initial Public Offer comprising of Offer for Sale of Up to 14,233,964 Equity Shares. ICICI Securities, Axis Capital, Citigroup Global Markets have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Equity Shares offer-for-sale (OFS) of up to 14,233,964 equity shares by International Finance Corporation, NYLIM Jacob Ballas India Fund III LLC and Resurgence PE Investments Limited will offload up to 2,985,075 equity shares, up to 7,462,700 equity shares and up to 3,786,189 equity shares respectively. ..

Objects of the issue:
1) achieve the benefits of listing the Equity Shares on the Stock Exchanges; , and 2) carry out the Offer for Sale of up to 14,233,964 Equity Shares by the Selling Shareholders to oprovide an exit to Selling Shareholders..

Promoters of Agilius Diagnostics are Fortis Healthcare Limited and holds 57.68% stake in the company.

About Company:
Promoted by Fortis Healthcare Limited, Agilius Diagnostics is diagnostics service provider. Company is having pan-India presence and offer diagnostics testing services (routine and specialized tests), wellness and preventive care packages, hospital laboratory management services and clinical research trial testing services. Company had a total network of 413 laboratories out of which three laboratories are situated outside India and 43 laboratories were NABL accredited in FY23.

About Industry:
The Indian diagnostics services industry is expected to grow at a CAGR of 8-10% between Fiscals 2023 and 2028 to reach ₹1,150-₹1,250 billion in Fiscal 2028. COVID-19 has altered customer preferences, including expectations in relation to convenienceand quicker turn-around time. While standalone players contributed 42-46% of the total diagnostics industryin Fiscal 2023, diagnostic chains possessbetter accreditations and cater to a larger set of population through their brand reputation and operational efficiency, which have led to an increase in theirshare from 13-17% to 16-20% of the overall diagnostics industry between Fiscals 2020 and 2023. (Source: CRISILReport)

Source: SEBI, BSE, NSE, DRHP, Agilius Diagnostics, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.