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SME

Chandan Healthcare Ltd

Chandan Healthcare Ltd IPO Details

Listing Date

17 Feb 2025

Bid Price

₹151 - ₹159

Lot Size

800 Shares

Minimum Investment

₹1,27,200 / 2 Lots

Issue Size

₹107.36 Crores

IPO Doc

DRHP PDF pdf

Schedule

    Here are the important dates you need to know in order to participate in this IPO

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Bidding starts

10th Feb

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Bidding ends

12th Feb

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Allotment of shares

13th Feb

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Initiation of refund

14th Feb

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Credit of shares to Demat account

14th Feb

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Listing date

17th Feb

About Chandan Healthcare Ltd IPO

Chandan Healthcare Limited, incorporated in September 2003, has established itself as a leading diagnostics provider in North India. The company specialises in pathology and radiology testing services, catering to a wide range of medical diagnostic needs. Over the years, it has built a strong presence with one flagship laboratory, seven central laboratories, and twenty-six satellite centres. Additionally, it has over 300 collection centres across more than 23 cities in Uttar Pradesh and 19 locations in Uttarakhand, making its services widely accessible to patients in the region.

As of December 31, 2024, Chandan Healthcare offers an extensive test menu comprising 1,496 diagnostic tests across various medical specialities. These include 481 routine pathology tests covering fundamental biochemistry and haematology parameters, along with 1,015 specialised tests such as immunohistopathology and molecular pathology. The company also provides 545 radiology tests, including x-rays, ultrasonography, CT, MRI, and advanced CT scans. With its state-of-the-art infrastructure, the company operates eleven CT scanners and four MRI machines to ensure high-quality imaging and diagnostic accuracy.

To maintain excellence in diagnostics, Chandan Healthcare employs a highly qualified team of medical professionals. As of December 31, 2024, the company has a workforce that includes 15 radiologists, 23 pathologists, and over 161 other skilled healthcare professionals. Their expertise plays a crucial role in delivering accurate and reliable test results. The company’s commitment to expanding its diagnostic network and enhancing technological capabilities positions it as a key player in the Indian healthcare diagnostics sector.

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 69.96% 49.2%
Public Group 30.04% 50.8%

Chandan Healthcare Ltd IPO Reservation

QIB Shares Offered 12,33,440 (18.27%)
NII (HNI) Shares Offered 9,25,080 (13.7%)
Retail Shares Offered 21,58,520 (31.97%)
Anchor Investor Shares Offered 18,50,160 (27.4%)
Total Shares Offered 67,52,000
Total Shares With Anchor Investor 67,52,000

Chandan Healthcare Ltd IPO Lot Size

Application Lots Shares Amount
Retail (Min) 2 800 ₹1,27,200
Retail (Max) 2 800 ₹1,27,200
S HNI (Min) 3 1,200 ₹1,90,800
S HNI (Max) 15 6,000 ₹9,54,000
B HNI (MIN) 16 6,400 ₹10,17,600

Chandan Healthcare Ltd IPO Anchor Investor Details

Bid Date February 07, 2025

Chandan Healthcare Ltd IPO registrar

KFin Techologies Ltd
Phone Number +91 40 6716 2222
Email Id einward.ris@kfintech.com
Website www.kfintech.com

Chandan Healthcare Ltd IPO Lead Manager

1. Unistone Capital Pvt Ltd

Chandan Healthcare Ltd Financial Information

March 31, 2025 March 31, 2024 March 31, 2023
Net Worth ₹122.6 cr ₹41.16 cr ₹27.3 cr
Reserves and Surplus ₹98.15 cr ₹21.16 cr ₹7.3 cr
Total Borrowing ₹48.16 cr ₹35.91 cr ₹21.35 cr

Chandan Healthcare Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed
Qualified Institutional Buyers (QIBs) 12,33,440 93,56,800 7.5859
Non Institutional Investors (NIIs) 9,25,080 1,77,91,200 19.2321
NII(Bid amount of more than Ten Lakh Rupees) 0 0 0
NII(Bid amount of more than 2 Lakh < 10 Rupees) 9,25,080 0 0
Retail Individual Investors (RIIs) 21,58,520 52,72,800 2.4428
Total 49,03,200 3,24,72,000 6.6226

Strength of Chandan Healthcare Ltd

  • Strong Geographical presence in Uttarakhand.
  • Integrated diagnostics provider with one-stop solution offering pathology and radiology testing, and medical consultation services.
  • Track record of profitability and consistent financial performance.
  • Dedicated management team with significant industry experience.

Risks Involved

  • Any interruptions at its flagship diagnostic centres may affect the company ability to process diagnostic tests, which in turn may adversely affect its business, results of operations and financial condition.
  • The company business and prospects may be adversely affected if its unable to maintain and grow the company brand name and brand image.
  • The company is dependent on B2C and few other customers for a major part of its revenues. Further the company does not enter long-term arrangements with its customers and any failures to continue the company existing arrangements could adversely affect its business and results of operations.
  • Any non-renewal or cancellation of its arrangements with the company institutional customers, including hospitals, and government agencies may adversely affect its business, results of operations and financial condition.
  • The company operations are only focused on Uttar Pradesh and Uttarakhand, and any loss of business in such region could have an adverse effect on its business, results of operations and financial condition.
  • The company primary source of revenue is from its pathology and radiology services and the company business may be adversely affected if these categories does not perform as well as expected.
  • The company is dependent on its Group Company for a significant part of the company revenues. Further the company has not entered into any long-term arrangements with its group company i.e. Chandan Hospital Limited and any failures to deliver the commitment could adversely affect its business and results of operations.
  • The company relies on domestic suppliers for the supply of medical consumables particularly suppliers from Uttar Pradesh and any delay, interruption or reduction in such supply could adversely affect its business, results of operations, financial condition and cash flows.
  • The company contingent liabilities as stated in its Restated Financial Statements could affect the company financial condition.
  • The company depends on third parties to provide it reagents and films, and any failures to continue to do so or recall of existing testing equipment and reagents could adversely affect its business, results of operations and financial condition.
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Industry Outlook of Chandan Healthcare IPO

  • Growing Demand for Diagnostics: With an increasing prevalence of lifestyle diseases, there is a higher demand for preventive and diagnostic healthcare services.

  • Rise of Organised Players: The industry is witnessing a shift from unorganised local labs to organised diagnostic chains offering standardised, high-quality services.

  • Expansion into Tier 2 & Tier 3 Cities: Companies like Chandan Healthcare are capitalising on the need for better healthcare access in smaller cities, enhancing their reach and revenue potential.

  • Digital Integration & Home Testing Services: The adoption of digital platforms and home sample collection services has improved accessibility and convenience, contributing to industry growth.

  • Government Support & Regulations: Government healthcare initiatives, such as Ayushman Bharat, are promoting affordable diagnostic services, benefitting companies in the sector.

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Frequently Asked Questions

What is Chandan Healthcare Ltd IPO?

Answer Field

Chandan Healthcare Ltd IPO is a SME IPO of 67,52,000 equity shares of a face value of ₹10 aggregating up to ₹107.36 Crores. The issue is priced at ₹151 to ₹159 per share. The minimum order quantity is 800 Shares. The IPO opens on February 10, 2025, and closes on February 12, 2025. KFin Techologies Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE-SME.

When Chandan Healthcare Ltd IPO will open?

Answer Field

The Chandan Healthcare Ltd IPO opens on February 10, 2025 and closes on February 12, 2025.

What is the lot size of Chandan Healthcare Ltd?

Answer Field

Chandan Healthcare Ltd lot size is 800 shares, and the minimum amount required is ₹1,27,200.

How to apply for Chandan Healthcare Ltd IPO?

Answer Field

You can apply in Chandan Healthcare Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Chandan Healthcare Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Chandan Healthcare Ltd IPO will be done on February 13, 2025, and the allotted shares will be credited to your demat account by February 14, 2025.

When is Chandan Healthcare Ltd IPO listing date?

Answer Field

The Chandan Healthcare Ltd listing date is February 17, 2025.

Who is the registrar of Chandan Healthcare Ltd IPO?

Answer Field

The registrar of Chandan Healthcare Ltd IPO is KFin Techologies Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Unistone Capital Pvt Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Chandan Healthcare Ltd IPO?

Answer Field

The fresh issue size is ₹70.79 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Chandan Healthcare Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 800 shares and ₹1,27,200 amount.

How can I approve the UPI mandate request for Chandan Healthcare Ltd IPO?

Answer Field

To apply for Chandan Healthcare Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Chandan Healthcare Ltd?

Answer Field

The price of each Chandan Healthcare Ltd share will be ranging in between ₹151 to ₹159 per share.

What is the cut-off time for the UPI mandate for Chandan Healthcare Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, February 12, 2025.

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