The IPO from Lotus Eye Care Hospital Ltd was over subscribed by 1.18 times despite heavy selling pressure in the capital market. The company is the state of the art eye care hospital group successfully functioning in South India with specialization in super-specialty services. Keynote Corporate Services Ltd is the BRLM and Canara Bank Merchant Banking Division is the Co-Lead Manager for the Issue and S.K.D.C. Consultants Ltd is the Registrar to the Issue.

Lotus plans to strengthen its presence in southern part of India by providing three fold services in eye care industry. It proposes to set up two Primary Eye Care units in Bangalore and one unit in Chennai with focus on diagnosis and dispensation of simple eye problems and optical sales. Further, Secondary Eye Care centres will be opened at R.S. Puram, Tirupur and Karur and a Tertiary Eye Care centre at Salem. It has already bought land at R.S.Puram on which work of construction is in process. The construction at Peelamedu and R.S.Puram has already been commenced. The construction of hospital at Tirupur, Salem and Karur will be commenced after acquisition of suitable land.

The company also intends to set up more eye care centres in different parts of the country. Lotus Eye Care Hospital Ltd, promoted by eye surgeon Dr S.K.Sundaramurthy, at present has a network of four eye care hospitals based at Coimbatore (2), Salem (1) and Tirupur (1).