Agrawal Healthcare: TPG and Temasek sell 12.64% stake
What's the deal? TPG and Temasek sold a combined 12.64% stake in Chennai-based eye care chain Agrawal Healthcare for US$272.7M through open-market transactions on 12 August 2026. The affiliates offloaded more than 4 crore shares at US$6.8–US$6.81 apiece.
Who's involved? TPG sold via Hyperion Investments Pte LtdDealroom has a profile for this one. Try Dealroom →, cutting its holding to 15.47% from 23.09%. Temasek's Claymore Investments (Mauritius) Pte LtdDealroom has a profile for this one. Try Dealroom → trimmed its stake to 5.17% from 10.19%.
Who bought? ICICI Prudential Mutual FundDealroom has a profile for this one. Try Dealroom →, Invesco Mutual FundDealroom has a profile for this one. Try Dealroom →, Polar CapitalDealroom has a profile for this one. Try Dealroom →, and Allianz Global InvestorsDealroom has a profile for this one. Try Dealroom → picked up more than 1.51 crore shares—nearly 5%—for US$103.4M at US$6.8–US$6.84 apiece.
Why now? The sale followed strong first-quarter FY2027 results reported in August 2026. Consolidated profit after tax rose 44.6% year on year to US$7.47M, while revenue climbed 26% to US$83.4M.
What's the endgame? Agrawal Healthcare expanded its network to 304 facilities across 10 countries, carrying out its largest-ever quarterly expansion of surgical centres. Standalone profit after tax rose to US$2.26M from US$1.37M in the same period of FY2026.
The signal: Despite the exit, TPG and Temasek remained the largest public shareholders—a partial cash-out rather than a full retreat. Shares fell nearly 6% to close at US$6.94 on the NSE following the transactions.
Read more: The Hindu BusinessLine
Image credit: AMISOM Public Information
