TPG, Temasek sell nearly 13 pc stake in Agarwals Health Care for Rs 2,008 cr

New Delhi, Aug 12 (PTI) Global investment firms TPG and Temasek on Wednesday collectively sold nearly a 13 per cent stake in the eye care chain Dr Agarwals Health Care for Rs 2,008 crore through open market transactions.

TPG, through affiliate Hyperion Investments Pte Ltd, and Singapore’s Temasek, through Claymore Investments (Mauritius) Pte Ltd, offloaded over 4 crore equity shares, representing a 12.64 per cent stake in the Chennai-based eye care chain, according to the bulk deal data on the NSE.

The shares were offloaded in the price range of Rs 501.03-501.54 apiece, taking the combined deal size to Rs 2,007.94 crore.

Following the transactions, Hyperion Investments’ holding in Agarwals Health Care has dropped to 15.47 per cent from 23.09 per cent,

while Claymore Investments’ equity stake has also fallen to 5.17 per cent from 10.19 per cent.

Despite the stake sale, TPG and Temasek, through their affiliates, remained the largest public shareholders in Dr Agarwals Health Care.

Meanwhile, ICICI Prudential Mutual Fund (MF), Invesco MF, investment management company Polar Capital and Munich-based financial services company Allianz, through its affiliate Allianz Global Investors, were entities that bought more than 1.51 crore equity shares, amounting to nearly a 5 per cent stake in Agarwals Health Care.

The shares were purchased in the price range of Rs 501-504 apiece, taking the aggregated transaction value to Rs 761.60 crore.

Details of the buyers of Agarwals Health Care’s shares could not be ascertained on the National Stock Exchange (NSE).

Shares of Dr Agarwals Health Care declined nearly 6 per cent to close at Rs 511 apiece on the NSE.

The stake sale came after the eye care chain reported a 44.6 per cent year-on-year rise in consolidated profit after tax to Rs 55.02 crore for Q1FY27 earlier this month.

Revenue rose 26 per cent to Rs 614.02 crore during the quarter.

The company expanded its network to 304 facilities across 10 countries and carried out its largest-ever quarterly expansion of surgical centres.

Standalone profit after tax also rose to Rs 16.67 crore from Rs 10.11 crore in the year-ago period, reflecting improved operating leverage and growth in high-margin specialised procedures. PTI HG HG BAL BAL