General Atlantic‑Backed ASG Eye Hospital Lines Up Bankers Ahead Of Rs 3,900‑Crore IPO

ASG Eye Hospital, backed by private equity firm General Atlantic, has appointed a group of investment banks as it prepares for an initial public offering (IPO) estimated at around $500–600 million (approximately Rs 3,900 crore).

The mandated banks for the offering include Axis Capital, Morgan Stanley, Nomura, Motilal Oswal, and HSBC.

The IPO is expected to value ASG Eye Hospital at roughly $3.4 billion, implying an equity dilution of about 15 percentfor existing shareholders. The company has also outlined a capital expenditure plan of around Rs 2,000 crore through 2030 to support its expansion across India, aiming to strengthen its presence in the country’s eye care sector.

ASG Eye Hospital operates a network of tertiary eye-care hospitals supported by smaller outreach centres, with a significant presence in tier-II and tier-III cities alongside select metropolitan locations. The company has strategically expanded into smaller cities where organised eye-care services are limited, steadily growing its footprint across the country.

In recent years, ASG has strengthened its network through acquisitions of regional eye-care chains, with its merger with Sharp Sight being the most recent. These acquisitions have enhanced both the hospital base and the scope of clinical services, continuing even as the company prepares for its proposed public listing.

This IPO marks a significant milestone for ASG Eye Hospital, positioning it to leverage public markets for growth while enabling broader investment participation in India’s healthcare infrastructure.

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