11 May 2022 , 11:12 AM
The investment round, which is India’s largest fund raise in the eyecare space, will also provide significant capital to fuel the company’s expansion plans and pave the way for an exit for existing investor, ADV Partners. The company also raised Rs270 crore investment from Temasek in 2019.
At around 11:08 AM, Dr Agarwals Eye Hospital was trading at Rs768.45 apiece up by Rs14.05 or 1.86% on the BSE.
Said Prof. (Dr.) Amar Agarwal, Chairman, Dr. Agarwal’s Group of Eye Hospitals: “We have had a great journey with our investor, ADV Partners, over the past 6 years. We are very excited to partner with TPG Growth and Temasek and look forward to the next phase of growth of our company.
Backing from such world-renowned marquee investors further strengthens our ideology of providing quality eyecare to the people and bringing advanced technology to far-reaching corners of the country. The new investments will be used to expand our Indian and international footprint and deploy latest technologies for super-specialty eyecare.”
Dr. Agarwal’s Group of Eye Hospitals has been on a growth spree across the country, with more than 60 units added to its network in the past five years alone. It plans to deploy capital to expand the current network of 105 hospitals to over 200 hospitals in the next 3-4 years. The company notched a revenue of over Rs700 crore in FY22.
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