TPG, Temasek Sell Nearly 13% Stake In Agarwals Health Care For ₹2,008 Cr

Global investment firms TPG and Temasek on Wednesday collectively sold nearly a 13% stake in the eye care chain Dr Agarwals Health Care for ₹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% 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 ₹501.03-501.54 apiece, taking the combined deal size to ₹2,007.94 crore.

Following the transactions, Hyperion Investments' holding in Agarwals Health Care has dropped to 15.47% from 23.09%, while Claymore Investments' equity stake has also fallen to 5.17% from 10.19%.

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% stake in Agarwals Health Care.

The shares were purchased in the price range of ₹501-504 apiece, taking the aggregated transaction value to ₹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% to close at ₹511 apiece on the NSE.

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

Revenue rose 26% to ₹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 ₹16.67 crore from ₹10.11 crore in the year-ago period, reflecting improved operating leverage and growth in high-margin specialised procedures.