New Delhi Centre For Sight Pvt Ltd, which operates eye-care chain Centre For Sight, has received capital markets regulator Securities and Exchange Board of India (SEBI)’s nod for its initial public offer (IPO).
The proposed public issue will comprise a fresh issue of shares and an offer for sale by promoters and investors. It had raised funding from multi-stage venture and growth equity investor Matrix Partners that is selling most of its holding in the IPO.
This adds to the string of other healthcare firms, such as Narayana Hrudayalaya, Dr Lal PathLabs and Alkem Laboratories, that have floated their public issues despite the volatile stock market.
Among other firms, oncology chain operator Healthcare Global Enterprises and diagnostics firm Thyrocare are in the queue for floating IPOs.
For more on the proposed issue, click here.
In another recent transaction in the same industry, last month, Hong Kong-based private equity firm ADV Partners (ADV) $45 million (around Rs 305.7 crore) in Chennai-based healthcare company Dr Agarwal's Healthcare Ltd (AHCL), paving the way for the exit of existing investor Evolvence India Life Sciences Fund.
A major chunk of the funds will be used to fund the expansion plans of its BSE-listed eye care hospital chain, Dr Agarwal's Eye Hospital Ltd, in which AHCL holds about 75 per cent stake. The funding made it one of the largest private equity investments in the eye care sector in India.