Chandan Healthcare Limited IPO (Chandan Healthcare IPO) Detail
Chandan Healthcare IPO is a book built issue of Rs 107.36 crores. The issue is a combination of fresh issue of 44.52 lakh shares aggregating to Rs 70.79 crores and offer for sale of 23.00 lakh shares aggregating to Rs 36.57 crores.
Chandan Healthcare IPO bidding started from February 10, 2025 and ended on February 12, 2025. The allotment for Chandan Healthcare IPO was finalized on Thursday, February 13, 2025. The shares got listed on NSE SME on February 17, 2025.
Chandan Healthcare IPO price band is set at ₹159 per share. The minimum lot size for an application is 800. The minimum amount of investment required by retail investors is ₹1,20,800. But it is suggested to the investor to bid at the cutoff price to avoid the oversubscription senerio, which is about to ₹1,27,200. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹2,54,400.
Unistone Capital Pvt Ltd is the book-running lead manager of the Chandan Healthcare IPO, while Kfin Technologies Limited is the registrar for the issue.The market maker for Chandan Healthcare IPO is R.K.Stock Holding Private Limited.
Refer to Chandan Healthcare IPO RHP for detailed information.
Chandan Healthcare IPO Details
| IPO Date | February 10, 2025 to February 12, 2025 |
| Listing Date | February 17, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹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 Reservation
Chandan Healthcare IPO offers 67,52,000 shares. 12,33,600 (18.27%) to QIB, 9,25,600 (13.71%) to NII, 21,59,200 (31.98%) to RII and 18,48,800 (27.38%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 18,48,800 (27.38%) |
| Market Maker Shares Offered | 3,39,200 (5.02%) |
| QIB Shares Offered | 12,33,600 (18.27%) |
| NII (HNI) Shares Offered | 9,25,600 (13.71%) |
| Retail Shares Offered | 21,59,200 (31.98%) |
| Total Shares Offered | 67,52,000 (100%) |
Category Reservation Detail Table
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
| Yes for Employee and RII/NII |
- Employee limit: Up to Rs 5 Lakhs (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs)
- If applying as RII: Upto Rs. 2 lakhs
- If applying as NII: Above Rs. 2 lakhs
Chandan Healthcare IPO Anchor Investors Details
Chandan Healthcare IPO raises Rs 29.40 crore from anchor investors. Chandan Healthcare IPO Anchor bid date is February 7, 2025. Chandan Healthcare IPO Anchor Investors list
| Bid Date | February 7, 2025 |
| Shares Offered | 18,48,800 |
| Anchor Portion Size (In Cr.) | 29.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 14, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 13, 2025 |
Chandan Healthcare IPO Timeline (Tentative Schedule)
Chandan Healthcare IPO opens on February 10, 2025, and closes on February 12, 2025.
| IPO Open Date | Mon, Feb 10, 2025 |
| IPO Close Date | Wed, Feb 12, 2025 |
| Tentative Allotment | Thu, Feb 13, 2025 |
| Initiation of Refunds | Fri, Feb 14, 2025 |
| Credit of Shares to Demat | Fri, Feb 14, 2025 |
| Tentative Listing Date | Mon, Feb 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 12, 2025 |
Chandan Healthcare IPO Lot Size
Investors can bid for a minimum of 800 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI 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 |
| Lot Size Calculator | |||
Chandan Healthcare IPO Promoter Holding
| Share Holding Pre Issue | 69.96% |
| Share Holding Post Issue | 49.20% |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
About Chandan Healthcare Limited
Incorporated in September 2003, Chandan Healthcare Limited runs diagnostic centres in North India with pathology and radiology testing services.
As of December 31, 2024, the company operates one flagship laboratory, seven central laboratories, and twenty-six satellite centres, with over three hundred collection centres in more than 23 cities across Uttar Pradesh and over 19 in Uttarakhand.
As of December 31, 2024, the company offers 1,496 tests across different specialities. The test menu includes
- 481 routine pathology tests in basic biochemistry and haematology, plus 1,015 specialised tests like immunohistopathology and molecular pathology, and
- 545 radiology tests, including x-rays, ultrasonography, CT, MRI, and specialised 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:
The company primarily provides diagnostic services and ad hoc sales of consumables like X-ray films and reagents. Its subsidiary, Chandan Pharmacy Limited, operates medical stores offering a range of pharmaceutical products.
- 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.
Company Financials
Chandan Healthcare Limited Financial Information (Restated Consolidated)
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 170.06 | 128.86 | 97.83 | 81.23 |
| Revenue | 167.99 | 177.96 | 137.03 | 119.92 |
| Profit After Tax | 17.42 | 16.36 | 3.59 | -1.09 |
| Net Worth | 41.09 | 27.3 | 23.93 | |
| Reserves and Surplus | 34.31 | 21.16 | 7.37 | 4 |
| Total Borrowing | 51.92 | 42.01 | 21.36 | 16.58 |
| Amount in ₹ Crore | ||||
Key Performance Indicator (KPI)
The market capitalization of Chandan Healthcare IPO is Rs 388.79 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 47.50% |
| ROCE | 35.20% |
| Debt/Equity | 1.02 |
| RoNW | 39.54% |
| PAT Margin | 9.26 |
| Price to Book Value | 7.73 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 8.18 | 9.50 |
| P/E (x) | 19.44 | 16.74 |
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of December 31, 2024 that is available in RHP.
Objects of the Issue (Chandan Healthcare IPO Objectives)
The company proposes to utilize the Net Proceeds from the Offer towards the following objects:
- Setting up a new Flagship Diagnostic Centre in Jankipuram, 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.
Chandan Healthcare IPO Review (Apply)
[Dilip Davda] CHL is a diagnostic service provider in the northern region. It covers pathological and radio-logical 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. The management is confident for maintaining the margins earned since FY24 onwards. Investors may park funds for medium to long term. Read detail review…
Chandan Healthcare IPO Subscription Status (Bidding Detail)
The Chandan Healthcare IPO is subscribed 7.04 times on February 12, 2025 6:20:00 PM (Day 3). The public issue subscribed 2.44 times in the retail category, 7.58 times in the QIB category, and 18.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 7.58 | 12,33,600 | 93,56,800 | 12 |
| NII* | 18.85 | 9,25,600 | 1,74,52,000 | 457 |
| Retail | 2.44 | 21,59,200 | 52,72,800 | 6,591 |
| Total | 7.04 | 45,64,000 | 3,21,32,800 | 7,099 |
Total Application : 7,099
*Market Maker portion is not included to NII/HNI.
Chandan Healthcare IPO Prospectus
Chandan Healthcare IPO Listing Details
| Listing Date | February 17, 2025 |
| BSE Script Code | |
| NSE Symbol | CHANDAN |
| ISIN | INE0B2N01016 |
| Final Issue Price | ₹159 per share |
Listing Day Trading Information
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹159.00 |
| Open | ₹165.10 |
| Low | ₹165.10 |
| High | ₹173.35 |
| Last Trade | ₹173.35 |
Check IPO Performance…
Chandan Healthcare Limited Contact Details
Chandan Healthcare Limited
Biotech Park, Sector G,
Jankipuram, Kursi Road,
Lucknow-226021
Phone: +91 8429024430
Email: secretarial@chandan.co.in
Website: https://www.chandandiagnostic.com/
Chandan Healthcare IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: chl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
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