To raise money via an IPO, Agilus Diagnostics submits draft papers to the Sebi
The capital markets regulator Sebi has received preliminary paperwork from Agilus Diagnostics Ltd. in preparation for an initial public offering (IPO) to raise money.
According to the draft red herring prospectus (DRHP), the first public offering is fully an offer for sale (OFS) of 1.42 crore equity shares by International Finance Corp, NYLIM Jacob Balls India Fund III LLC, and Resurgence PE Investments Ltd.
The whole profits of the IPO, which is an OFS, will be distributed to the current shareholders.
According to a Crisil study, as of the financial year that concluded on March 31, 2023, Agilus Diagnostics, previously known as SRL Ltd, was one of the major diagnostics service providers in India in terms of the number of labs and the second largest in terms of revenue from operations.
The National Accreditation Board for Testing and Calibration labs (NABL) has certified 43 of its network’s 413 labs as of March 31, 2023.
The Middle East, Sub-Saharan Africa, the Commonwealth of Independent States, and the South Asian Association for Regional Cooperation (SAARC) area are all regions where the corporation is present on a global scale.
According to the draft documents submitted on Friday, it would conduct 3.9 crore tests and treat 1.66 crore patients in India and abroad until Fiscal 2023.
The book-running lead managers for the issuance are Citigroup Global Markets India, Axis Capital, and ICICI Securities.
