Chandan Healthcare IPO is a book-built offering of Rs 107.36 crore. The issue is a mix of an offer to sell 23.00 lakh shares for a total of Rs 36.57 crore and a fresh issue of 44.52 lakh shares valued at Rs 70.79 crore.
The subscription period for Chandan Healthcare IPO will commence on February 10, 2025, and end on February 12, 2025. The allotment for Chandan Healthcare IPO is expected to be finalized on Thursday, February 13, 2025. The tentative listing date for Chandan Healthcare IPO is set for Monday, February 17, 2025, on NSE SME.
The pricing range for Chandan Healthcare's IPO is ₹151 to ₹159 per share. An application must have a minimum lot size of 800. Retail investors are needed to invest a minimum of ₹1,27,200. HNI requires a minimum lot size investment of two lots (1,600 shares), or ₹2,54,400.
The Chandan Healthcare IPO's book running lead manager is Unis tone Capital Pvt Ltd, while the issue's registrar is Kein Technologies Limited. For the Chandan Healthcare IPO, R.K. Stock Holding Private Limited is the market maker.
Chandan Healthcare IPO Timeline
Chandan Healthcare IPO opens on February 10, 2025, and closes on February 12, 2025.
| IPO Open Date | Monday, February 10, 2025 |
| IPO Close Date | Wednesday, February 12, 2025 |
| Basis of Allotment | Thursday, February 13, 2025 |
| Initiation of Refunds | Friday, February 14, 2025 |
| Credit of Shares to Demat | Friday, February 14, 2025 |
| Listing Date | Monday, February 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 12, 2025 |
Chandan Healthcare IPO Details
| IPO Date | February 10, 2025 to February 12, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹151 to ₹159 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 67,52,000 shares (aggregating up to ₹107.36 Cr) |
| Fresh Issue | 44,52,064 shares (aggregating up to ₹ 70.79 Cr) |
| Offer for Sale | 22,99,936 shares of ₹10 (aggregating up to ₹36.57 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 2,00,00,000 shares |
| Share Holding Post Issue | 2,44,52,064 shares |
| Market Maker Portion | 3,39,200 shares R. K Stock Holding Private Limited |
Chandan Healthcare IPO Lot Size
Investors can bid for a minimum of 800 shares and in multiples thereof. The table below shows the minimum and maximum investment by retail investors and HNIs in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,27,200 |
| Retail (Max) | 1 | 800 | ₹1,27,200 |
| HNI (Min) | 2 | 1,600 | ₹2,54,400 |
Chandan Healthcare IPO Promoter Holding
The Company's Promoters are Amaranta Holdings (India) Private Limited, Amar Singh, Asmita Singh, Alok Singh, Shaleen Solanki, Vijay Singh and Vinay Lamba.
| Share Holding Pre Issue | 69.96% |
| Share Holding Post Issue |
About Chandan Healthcare Limited
Incorporated in September 2003, Chandan Healthcare Limited runs diagnostic centers with pathology and radiology testing services in North India.
As of December 31, 2024, the company operates one flagship laboratory, seven central laboratories and twenty-six satellite centers, with over three hundred collection centers in over 23 cities in Uttar Pradesh and over 19 cities in Uttarakhand.
As of December 31, 2024, the company offers 1,496 tests across various specialties. The test menu includes
481 routine pathology tests in basic biochemistry and hematology, as well as 1,015 specialized tests such as immunohistopathology and molecular pathology and
545 radiology tests including X-ray, ultrasonography, CT, MRI and specialized CT scans.
The radiology facilities have eleven CT scanners and four MRI machines.
As of December 31, 2024, the company employed 15 radiologists, 23 pathologists and over 161 other qualified professionals.
Products and services
- Routine Pathology Tests
- Specialized Pathology Tests
- Radiology Tests
- Preventive and Wellness Services
- Home Collection Service
Competitive Strength:
- Strong geographic presence in Uttarakhand, including 39 tier-two cities and towns.
- Integrated diagnostics provider offering pathology, radiology testing, and medical consultations.
- Track record of profitability and consistent financial performance.
- Dedicated management team with significant industry experience.
Chandan Healthcare Limited Financial Information
Objects of the Issue (Chandan Healthcare IPO Objectives)
- Setting up a new Flagship Diagnostic Centre in Janki Puram, Lucknow, Uttar Pradesh.
- Setting up a new Central Reference laboratory at Ayodhya, Uttar Pradesh
- Setting up a new Central Reference laboratory at Ashiyana, Lucknow, Uttar Pradesh.
- General corporate purposes
• The company is a diagnostic service provider in the northern region.
• It covers pathological and radiological testing services under one roof.
• The company marked steady growth in its top and bottom lines for the reported periods.
• The boost in bottom lines from FY24 onwards is attributed to break even by its new centers established in the last three years.
• Based on its recent financial performances, the issue appears lucratively priced.
• Investors may park funds for medium to long term
Conclusion
CHL is a diagnostic service provider in the northern region. It offers pathological and radiological testing services under one roof. The company recorded consistent growth in its top and bottom line for the reported period. The growth in bottom line from FY24 is attributed to break even by its new centers set up in the last three years. Based on its recent financial performance, the issue is available at an attractive price. The management is confident of maintaining the margins earned from FY24. Investors can deploy funds for the medium to long term.
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