Dr Agarwal Raises 160 Cr Funding

An eye care chain, Dr Agarwal's Healthcare Limited, announced that it has entered into an agreement with Edelweiss Special Opportunities Fund II to raise Rs 160-crore.

The fund will be generated through structured debt arrangement and will be used to fuel the company’s growth plans.

The company is aiming to grow its network from the current 70 centres to 150 centres by 2020.

Elaborating about the funding, Adil Agarwal, Chief Executive Officer of Dr Agarwal's Healthcare Limited said, “We are thrilled to have ESOF on board as investors as we continue to increase our pan India presence by launching hospitals in newer geographies such as within India as well as abroad. In India we are looking at entering Madhya Pradesh, Uttar Pradesh, Bihar and Jharkhand."