Dr. Agarwal's Health Care Limited has informed the Exchange regarding Outcome of Board Meeting held on August 27, 2025.
AGARWALEYE · price
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The board approved a scheme of amalgamation to merge its listed subsidiary Dr. Agarwal's Eye Hospital Limited (AEHL) into itself through a merger by absorption. Under the share exchange ratio, AEHL shareholders will receive 23 equity shares of the company (₹1 face value) for every 2 shares (₹10 face value) held in AEHL. AEHL had standalone turnover of ₹397.15 crore in FY25 versus the company's standalone turnover of ₹1,043.89 crore. Separately, the company will acquire 1,32,827 equity shares of AEHL via preferential issue at ₹5,270 per share, totalling ₹69.99 crores, raising its AEHL stake from 71.90% to 72.67%. The board also approved acquiring the remaining 41,653 shares of Aditya Jyot Eye Hospital Private Limited (AJEHPL) for ₹6.25 crores, making it a wholly owned subsidiary. The merger is expected to be EPS accretive from year one and is subject to NCLT and other approvals.
The amalgamation consolidates the group's eye-care operations under one listed entity, simplifying governance and unlocking operational and capital efficiencies. Public shareholding will marginally expand (from 67.58% to 69.06%) due to share issuance, but the deal is positioned as EPS accretive, which is supportive of long-term shareholder value.