Agilus Diagnostics, a Gurugram-based diagnostics firm formerly known as SRL, has opted to withdraw its initial public offering (IPO) plan as of the last week of February, specifically on February 12.
The proposed Agilus Diagnostics IPO exclusively comprised an offer-for-sale (OFS) of 1,42,33,964 equity shares by existing shareholders, with no provision for a fresh issue of shares.
Among the selling shareholders in the OFS were International Finance Corporation, NYLIM Jacob Ballas India Fund III LLC, and Resurgence PE Investments.
According to the processing status of draft offer documents released on February 16, the Securities and Exchange Board of India (SEBI) confirmed the withdrawal of Agilus Diagnostics’ public issue on February 12.
Agilus, a major player in India’s diagnostics sector with a network of 413 laboratories, had initially filed a draft red herring prospectus (DRHP) with SEBI on September 29, 2023. The disclosed DRHP indicated that Fortis Healthcare, the promoter, held a 57.68 percent stake in Agilus Diagnostics, while the remaining 42.32 percent was held by public shareholders.
At the time of filing the draft papers, NYLIM Jacob Ballas India Fund III LLC held the largest share with a 15.86 percent stake, followed by Resurgence PE Investments with 8.05 percent, and International Finance Corporation with 7.61 percent.
