Dr. Agarwal's Health Care and Eye Hospital to Amalgamate in Scheme Under NCLT Order
Dr. Agarwal's Health Care Limited (AHCL) is set to amalgamate with Dr. Agarwal's Eye Hospital Limited (AEHL) through a Scheme of Amalgamation. The amalgamation is being conducted following an order by the National Company Law Tribunal (NCLT), and a meeting of the Secured Creditors has been convened to consider and potentially approve the transaction.The meeting for the Secured Creditors of AHCL is scheduled for Thursday, July 02, 2026, at 03:00 P.M. IST. The meeting venue has been set at The Music Academy, T.T.K. Road, Chennai - 600 014.
The amalgamation, which will see AEHL stand amalgamated into AHCL, aims to consolidate the businesses of both entities into a single, unified corporate structure.
Scheme Details and Valuation
The Scheme of Amalgamation is designed to merge the operations and resources of both entities. Independent valuations conducted by M/s. PwC Business Consulting Services LLP and M/s. Bansi S. Mehta Valuers LLP determined the Share Exchange Ratio. Both valuation reports recommended that for every 2 (Two) equity shares of AEHL, 23 (Twenty-Three) equity shares of AHCL shall be issued.
The primary objective of the Scheme is to create value for stakeholders by realizing operational and financial efficiencies. Key benefits anticipated from the merger include:
- Operational Efficiencies: Streamlining functions and standardized protocols across both entities, leading to economies of scale.
- Capital Allocation: Establishing a unified capital structure that allows for more efficient resource deployment and strategic investments.
- Governance: Simplifying the legal, regulatory, and administrative framework into a single operating entity.
- Shareholder Value: The Scheme is expected to result in an accretion in earnings per share from the first year of implementation.
Operational Scale
The entities involved maintain a strong presence in the eye care sector:
- AHCL: Is recognized as India's largest eye care service chain by revenue from operations for FY2024, boasting a network of 288 facilities across 14 states and 5 UT in India, and 19 facilities in nine countries across Africa.
- AEHL: Is a leading eye care services chain with a predominant presence in Tamil Nadu, operating through a network of over 63 facilities.
Financial Impact and Shareholding
The amalgamation will result in the reclassification of the authorized share capital of AEHL, which will be transferred to AHCL. Post-amalgamation, the total authorized share capital of AHCL will stand at 110,00,00,000 (Indian Rupees One) each.
The financial implications regarding outstanding dues as of December 31, 2025, are summarized below:
| Creditor Type | Company | Amount Due (INR Crores) |
|---|---|---|
| Secured Creditors | AHCL | 73.84 |
| Secured Creditors | AEHL | 85.77 |
| Unsecured Creditors | AHCL | 199.6 |
| Unsecured Creditors | AEHL | 44.64 |
Voting and Corporate Timeline
The meeting was convened following a direction from the NCLT order dated May 05, 2026. The company facilitated the approval process by allowing Secured Creditors to participate in a remote e-voting period.
The window for remote e-voting opened on Sunday, June 07, 2026, at 09:00 A.M. (IST) and concluded on Wednesday, July 01, 2026, at 05:00 P.M (IST). Creditors may also exercise their right to vote via the e-voting system or polling papers at the physical meeting on July 02, 2026.
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Disclaimer: This report is based exclusively on corporate notices and documents provided and contains no external commentary.
AGARWALEYE Stock Price Movement
As of 12:43 PM, shares of Dr. Agarwal's Health Care Limited are slipping by 0.39% in live trading, currently at ₹482.2. The stock is seeing significant activity on a volume of 14,319 shares, indicating consistent intraday selling pressure.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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