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Agilus Diagnostics Limited IPO Details: Date, Share Price, Size, GMP & Review

Agilus-Diagnostics-Limited-IPO-Details-Date-Share-Price-Size-GMP-&-Review

Agilus Diagnostics Limited – About the Company

Founded on July 7, 1995, Agilus Diagnostics, formerly known as SRL Limited, is an Indian multinational diagnostics company. The company offers diagnostic services in pathology and radiology. For FY23, the company is India's largest diagnostics service provider and the second largest in terms of revenue from operations. They offer various diagnostic testing services, care packages, hospital laboratory management services, and clinical research trial testing services.

As of March 31, 2023, they had a network of 413 laboratories, with 43 accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL).

Agilus Diagnostics IPO Objectives

The objective of the Agilus Diagnostics offer only includes offer for sale and no fresh issue is notified by the company. The OFS as per DRHP is for up to 14,233,964 Equity Shares by the Selling Shareholders.

Agilus Diagnostics IPO Issue Price & Size

The issue price of Agilus Diagnostics is between the price ranges of Rs XXX (to be updated) to Rs XXX (to be updated). The investors can bid between these price ranges during the open and close date of Agilus Diagnostics IPO. As per the DRHP offer document, Agilus Diagnostics IPO will issue a fresh issue of equity shares of up to Rs 250 crore and an offer-for-sale (OFS) of Rs. 250 crores.

Agilus Diagnostics IPO Launch Date

The launch date of the Agilus Diagnostics IPO is not yet announced officially by the company. However, the Agilus Diagnostics IPO will be open on the date of XXXX (to be updated) and will close on XXXXX (to be updated). All types of investors can bid for the IPO between these dates.

Agilus Diagnostics Financial Statements:

Particulars As of and for the year ended March 31
2021 2022 2023
Key Financial Indicators
Revenue from operations (₹ million) 10350.73 16049.11 13474.62
Restated profit for the year (₹ million) 1312.45 5547.08 1166.36
PAT Margin (%) 12.68% 34.56% 8.66%
EBITDA(₹ million 2442.04 7323.95 2626.26
Adjusted EBITDA (₹ million) 2442.04 4262.52 2626.26
EBITDA Margin (%) 23.59% 45.63% 19.49%
Adjusted EBITDA Margin (%) 23.59% 26.56% 19.49%
Return on Equity  (%) 10.53% 34.91% 6.12%
Return on Capital Employed (%) 20.61% 73.39% 20.17%
Net debt/equity NIL NIL NIL
Average revenue per test (ARPT) (₹) 439.91 363.27 344.88
Revenue per accession (₹) 938.43 749.88 810.66
Revenue generated from routine

tests as a % of total revenue

37.08% 40.32% 52.77%
Revenue generated from specialized

tests as a % of total revenue

57.09% 53.71% 38.07%
Revenue generated from wellness

packages as a % of total revenue

5.83% 5.97% 9.16%
Key Operational Indicators
Number of laboratories 420 423 413
Number of patients served (million) 11.03 21.4 16.62
Number of tests performed (million) 25.53 44.18 38.07
Customer touch points (CTP) 2250 3050 3757
Customer touch points (CTP) per laboratory 5.36 7.21 9.1
Number of tests per patient visit 2.13 2.06 2.35

 

Agilus Diagnostics IPO Promoters & Shareholding of the Company

There is only one promoter of the company, i.e. Fortis Healthcare Limited. As on the date of filing the DRHP, Fortis Healthcare Limited hold 57.68% paid-up equity of the company.

Why Invest in Agilus Diagnostics IPO?

The increasing focus on preventative medicine, increasing incidence of chronic and lifestyle diseases, preference for evidence-based treatment, changing nature of diseases, expansion of organized healthcare, and increased use of technology in healthcare are set to drive the growth of the Indian diagnostics services industry and create a significant market opportunity for them. As economy move toward modernization and urbanization of villages takes place, people become more aware about their being Indian diagnostics services industry is set to grow.

Competitive Strengths:

Pan-India service provider with balance revenue Mix

Agilus have a diversified pan-India presence and offer

  • Routine and specialized diagnostics testing services
  • Wellness and preventive care packages
  • Hospital laboratory management services
  • Clinical research trial testing services.

As of March 31, 2023, they had a network of 413 laboratories across Indian with contribution from region evenly balanced.

Region FY21 FY22 FY23
India
North 40.48% 31.64% 32.56%
South 10.03% 28.18% 28.11%
East 13.66% 12.43% 13.83%
West 33.62% 24.53% 23.05%
Rest of the World 2.21% 3.22% 2.45%

 

As can be seen from table below, Agilus has a well-balanced revenue mix between B2C and B2B segments. Business 2 business (B2B) provides access to higher test volumes. To service its customers, the company has expanded its last-mile service delivery network from 2,250 customer touch point (CTP) to 3,757 CTPs and expanded home collection services to over 80 cities.

The company also has tie-ups with independent private healthcare providers for diagnostic services.

Segment FY21 FY22 FY23
B2C 48.55% 54.58% 54.31%
B2B 51.45% 45.42% 45.69%

 

Strong support from the promoter group:

As a subsidiary, Agilus receives strong operational and managerial support from Fortis healthcare.

Risks Factors:

Regulatory proceedings on promoter

Fortis Healthcare Limited, which is also the promoter of Agilus, is subject to certain proceedings, including ongoing investigation by the Serious Fraud Investigation Office. Any adverse outcome form the proceedings can have negative impacts on its business and reputation.

Exposure to regulatory risks, market fragmentation and modest entry barriers:

The cap on prices for diagnostic tests, introduced by the government, has impacted players adversely. Limited capital requirement for setting a diagnostics laboratory has led to emergence of several diagnostic centres. Intense competition restricts the market share and pricing power of players such as Agilus

Agilus Diagnostics IPO Grey Market Premium (GMP)

The Grey Market Premium or GMP is the pre-defined price of an unlisted company that has launched the IPO with an issue price and is likely to list on the stock exchanges. The GMP is the premium price over the issue price in IPO, and it is determined by the speculators in the grey market depending on the demand and supply of the shares in the grey market.

Also Read: What is Grey Market Premium in IPO: How is GMP Calculated &Reliable

As the issue price of the Agilus Diagnostics IPO has not been disclosed or declared by the company, the GMP is also not identifiable in the grey market. However, the GMP is not a reliable factor in deciding the expected listing price of any unlisted company, but it can give an idea of its share price, at that price it is going to trade around in the secondary market.

How to Apply for Agilus Diagnostics IPO?

To apply in the Agilus Diagnostics IPO or any other company’s IPO or if you are looking to invest in the stock market, you need a trading account and a demat account. You have to open both these accounts with the SEBI and stock exchanges registered brokers to apply for the IPO or buy or sell in the stock market. Right now if you don’t have these accounts, just apply here at Moneysukh, to open both these accounts and apply in the IPO or perform the online trading.

Also Read: Benefits of Investing in the Stock Market: Advantages of Share Market

Having a trading and demat account with Moneysukh, you will get a world-class facility with best trading platform at the best discount brokers in India for trading or investing in equitiescommodities and currencies at the lowest brokerage and best pricing in the industry. To apply for the Agilus Diagnostics IPO through Moneysukh just follow the steps given below.

Also Read: Equity or Commodity which is better for Trading or more Profitable

Steps to Apply for Agilus Diagnostics IPO:

Step 1: When Agilus Diagnostics IPO opens, only then you can apply for the bidding.

Step 2: Open trade.moneysukh.com in your browser and log in with your User ID & password.

Step 3: Now you need to navigate to the IPO section and click on the Agilus Diagnostics IPO.

Step 4: Further you need to fill in the various details like price, quantity, and so on.

Note: Always make sure always bid at the cutoff price while applying and submitting your application in the IPO. 

Step 5: Now make the required payment amount before submitting your IPO application successfully.

How to Check Agilus Diagnostics IPO Allotment Status?

The basis of the allotment process in the IPO starts after few days after the last bidding date. Depending on the IPO subscription status, a company organises the allotment procedure. If an IPO is oversubscribed many times, most companies follow the lottery system to organize the allotment process. Hence, the chances of getting the allotment of shares become very low for each individual investor when the entire IPO issue is oversubscribed into multiple folds.

Also Read: How to check IPO allotment status on NSE, BSE through Moneysukh

IPO allotment for retail and IPO in the HNI category or any other category all are done as per the quota decided for the different types of investors. Hence, you need to follow certain tips while investing in IPOs to improve your chances of allotment of shares.

Also Read: How to Increase the Chances of IPO Allotment

However, when an investor doesn't get any shares in the allotment then, the IPO application money will be refunded into the bank account or the fund will be unblocked if you have applied into the IPO through an ASBA UPI-based online payment system.

If you are the lucky one and managed to get the allocation of shares during the allotment the number of shares allocated to you will be transferred into your demat account before the date of listing. You sell the shares to book profits or further keep them in your portfolio with the intention to get long-term gain from an increase in the value of the share.

Also Read: What is Profit Booking in Stock Market: Rules & Best Strategy

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