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Chandan Healthcare IPO is a book build issue of ₹107.27 crores. The issue is a combination of fresh issue of 0.45 crore shares aggregating to ₹70.73 crores and offer for sale of 0.23 crore shares aggregating to ₹36.54 crores.
Chandan Healthcare IPO bidding started from Feb 10, 2025 and ended on Feb 12, 2025. The allotment for Chandan Healthcare IPO was finalized on Feb 13, 2025. The shares got listed on NSE SME on Feb 17, 2025.
Chandan Healthcare IPO price band is set at ₹159.00 per share . The lot size for an application is 800. The minimum amount of investment required by an retail is ₹1,27,200 (800 shares) (based on upper price). The minimum lot size investment for HNI is 2 lots (1,600 shares), amounting to ₹2,54,400.
The issue includes a reservation of up to 2,45,600 shares for employees offered at a discount of ₹15.00 to the issue price.
Unistone Capital Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is R.K.Stock Holding Pvt.Ltd..
Refer to Chandan Healthcare IPO RHP for detailed Information.
| IPO Date | February 10, 2025 to February 12, 2025 |
| Listing Date | February 17, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹151 to ₹159 per share |
| Issue Price Final | ₹159 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 67,52,000 shares (aggregating up to ₹107.27 Cr) |
| Reserved for Market Maker | 3,39,200 shares R.K.Stock Holding Pvt.Ltd. (aggregating up to ₹5.39 Cr) |
| Fresh Issue (Ex Market Maker) | 41,12,864 shares (aggregating up to ₹65.34 Cr) |
| Offer for Sale | 22,99,936 shares of ₹10 (aggregating up to ₹36.54 Cr) |
| Net Offered to Public | 64,12,800 shares (aggregating up to ₹101.88 Cr) |
| Employee Discount | ₹15.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 2,00,00,000 shares |
| Share Holding Post Issue | 2,44,52,064 shares |
Chandan Healthcare IPO offers total 67,52,000 shares. Out of which 30,82,400 (45.65%) allocated to QIB, 12,33,600 (18.27%) allocated to QIB (Ex- Anchor), 9,25,600 (13.71%) allocated to NII, 21,59,200 (31.98%) allocated to RII and 18,48,800 (27.38%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,39,200 (5.02%) |
| QIB Shares Offered | 30,82,400 (45.65%) |
| − Anchor Investor Shares Offered | 18,48,800 (27.38%) |
| − QIB (Ex. Anchor) Shares Offered | 12,33,600 (18.27%) |
| NII (HNI) Shares Offered | 9,25,600 (13.71%) |
| Retail Shares Offered | 21,59,200 (31.98%) |
| Employee Shares Offered | 2,45,600 (3.64%) |
| Total Shares Offered | 67,52,000 (100.00%) |
| 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 |
Chandan Healthcare IPO raises ₹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 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 Wed, Feb 12, 2025 |
Investors can bid for a minimum of 800 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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
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.
Competitive Strength:
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 170.06 | 128.86 | 97.83 | 81.23 |
| Total Income | 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 | ||||
The market capitalization of Chandan Healthcare IPO is ₹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 company proposes to utilize the Net Proceeds from the Offer towards the following objects:
[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...
| Listing Date | February 17, 2025 |
| BSE Script Code | |
| NSE Symbol | CHANDAN |
| ISIN | INE0B2N01016 |
| Final Issue Price | ₹159 per share |
| NSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹159.00 |
| Open | ₹165.10 |
| Low | ₹165.10 |
| High | ₹173.35 |
| Last Trade | ₹173.35 |
Chandan Healthcare Ltd.
Biotech Park, Sector G,
Jankipuram,
Kursi Road,
Lucknow, Uttar Pradesh, 226021
Phone: +91 8429024430
Email: secretarial@chandan.co.in
Website: https://www.chandandiagnostic.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: chl.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Chandan Healthcare IPO is a SME IPO of 67,52,000 equity shares of the face value of ₹10 aggregating up to ₹107.27 Crores. The issue is priced at ₹159 per share. The minimum order quantity is 800.
The IPO opens on February 10, 2025, and closes on February 12, 2025.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Chandan Healthcare IPO using UPI as a payment gateway. Zerodha customers can apply in Chandan Healthcare IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Chandan Healthcare IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Chandan Healthcare IPO opens on February 10, 2025 and closes on February 12, 2025.
Chandan Healthcare IPO lot size is 800, and the minimum amount required for application is ₹1,27,200.
You can apply in Chandan Healthcare IPO online using either UPI or ASBA as a 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. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Chandan Healthcare IPO will be done on Thursday, February 13, 2025, and the allotted shares will be credited to your demat account by Friday, February 14, 2025. Check the Chandan Healthcare IPO allotment status.
The Chandan Healthcare IPO listing date is on Monday, February 17, 2025.
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