New Delhi:
Diagnostic service provider Agilus Diagnostics is gearing up to hit the market with its Initial Public Offering (IPO). The company has formally submitted its documents to SEBI for IPO approval.
According to the Draft Red Herring Prospectus (DRHP), this public issue is exclusively Offer for Sale (OFS) based.
Major stakeholders, including International Finance Corp, NYLIM Jacob Balls India Fund III LLC, and Resurgence PE Investments Limited, are set to sell a total of 1.42 crore shares.
As the IPO is purely OFS, the proceeds from the offering will go to existing shareholders.
It’s worth noting that Agilus Diagnostics was previously known as SRL Ltd.
Key Players in the IPO Process
The company has enlisted ICICI Securities, Axis Capital, and Citigroup Global Markets India as the book-running lead managers for its upcoming IPO. In the fiscal year 2023, Agilus Diagnostics conducted an impressive 3.9 crore tests and served 1.66 crore patients, both in India and internationally.
A Global Footprint Beyond India
Agilus Diagnostics has expanded its footprint beyond India, establishing a presence in various international markets.
According to a CRISIL report, as of March 31, 2023, the company was one of India’s largest diagnostics service providers in terms of the number of laboratories.
It was also the second-largest diagnostics company in the country by revenue from operations.
The company operated a total of 413 labs, with 43 accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL).
Agilus Diagnostics extends its operations to regions such as the Middle East, Sub-Saharan Africa, the Commonwealth of Independent States, and the South Asian Association for Regional Co-operation (SAARC).
A Journey Since 1995
Founded in 1995, Agilus Diagnostics has its headquarters in Gurugram. As of March 2023, the company had labs in more than 1000 cities and towns across 25 states and 5 union territories in India.
Anand Kuppuswamy currently serves as the Managing Director and CEO of Agilus Diagnostics, leading the company on its mission to provide comprehensive diagnostic services.
