Agilus Diagnostics files for IPO to raise funds via 142.3 mn shares

The offering is solely an offer for sale by current shareholders, including International Finance Corporation, NYLIM Jacob Ballas India Fund III and Resurgence PE Investments.

ICICI Securities, Axis Capital, and Citigroup Global Markets India Private have been appointed as the Book Running Lead Managers for the IPO.

The offer for sale includes up to 2,985,075 equity shares from International Finance Corporation, up to 7,462,700 equity shares from NYLIM Jacob Ballas India Fund III, and up to 3,786,189 equity shares from Resurgence PE Investments.

As the largest diagnostics service provider in India by the number of laboratories, Agilus Diagnostics also ranks second in revenue from operations for the financial year ending March 31, 2023, according to a CRISIL report.

The company operates in various regions including the Middle East, Sub-Saharan Africa, the Commonwealth of Independent States and the South Asian Association for Regional Cooperation. Agilus Diagnostics conducted approximately 39.07 million tests and served around 16.62 million patients both in India and abroad, as indicated in the Draft Red Herring Prospectus.