Bookbuilding IPO | ₹107 Cr | Listed at NSE SME | Mon, Feb 10, 2025 - Wed, Feb 12, 2025
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 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 for investment in 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 Open
Mon, Feb 10, 2025
IPO Close
Wed, Feb 12, 2025
Issue Price
₹159 per share
Market Cap (Pre-IPO)
₹388.79 Cr
| IPO Date | 10 to 12 Feb, 2025 |
| Listed on | Mon, Feb 17, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹151 to ₹159 |
| Issue Price | ₹159 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Employee Discount | ₹15.00 |
| Total Issue Size | 67,52,000 shares (agg. up to ₹107 Cr) |
| Reserved for Market Maker | 3,39,200 shares R.K.Stock Holding Pvt.Ltd. (agg. up to ₹5 Cr) |
| Fresh Issue (Ex Market Maker) | 41,12,864 shares (agg. up to ₹65 Cr) |
| Offer for Sale | 22,99,936 shares of ₹10 (agg. up to ₹37 Cr) |
| Net Offered to Public | 64,12,800 shares (agg. up to ₹102 Cr) |
| Share Holding Pre Issue | 2,00,00,000 shares |
| Share Holding Post Issue | 2,44,52,064 shares |
| NSE Symbol | CHANDAN |
| ISIN | INE0B2N01016 |
Chandan Healthcare IPO comprises a total issue size of 67,52,000 shares. The net offer to the public is 61,67,200 shares, after excluding 3,39,200 shares allotted on a firm basis and 2,45,600 shares under a preferential allotment. Of the Net offer 30,82,400 (49.98%) are allocated to QIB, 9,25,600 (15.01%) allocated to NII 21,59,200 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 30,82,400 | 49.98% | 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 | 15.01% | 13.71% |
| Retail Shares Offered | 21,59,200 | 35.01% | 31.98% |
| Preferential Reservations | |||
| Employee Shares Offered | 2,45,600 | 3.64% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,39,200 | 5.02% | |
| Total Shares Offered | 67,52,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| 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 raises ₹29.40 crore from anchor investors. Chandan Healthcare IPO Anchor bid date is February 7, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Feb 7, 2025 |
| Shares Offered | 18,48,800 |
| Anchor Portion (₹ Cr.) | 29.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Mar 14, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, May 13, 2025 |
| 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 |
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 | 27.30 | 23.93 | |
| Reserves and Surplus | 34.31 | 21.16 | 7.37 | 4.00 |
| Total Borrowing | 51.92 | 42.01 | 21.36 | 16.58 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Setting up of a new Flagship diagnostic centre in Jankipuram, Lucknow, Uttar Pradesh. | 32.82 |
| 2 | Setting up of a new Central Reference laboratory at Ayodhya, Uttar Pradesh. | 7.10 |
| 3 | Setting up of a new Central Reference laboratory at Ashiyana, Lucknow, Uttar Pradesh. | 7.10 |
| 4 | General corporate purposes | 16.72 |
| KPI | Mar 31, 2024 |
|---|---|
| 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 (₹) | 8.18 | 9.50 |
| P/E (x) | 19.44 | 16.74 |
| Promoter Holding | 69.96% | 49.2% |
| Market Cap | ₹388.79 Cr. |
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.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Offer relating expenses such as fees to Book Running Lead Manager Fixed Fee, Registrar to the Offer, Legal Advisors, Auditors, statutory advertisements and other expenses incurred / to be incurred including promotional expenses | 0.75 |
| 2 | Underwriting commission, brokerage and selling commission (including Commission/processing fees for SCSBs, Sponsor Bank, Members of the Syndicate, Registered Brokers, RTAs and CDPs) | 9.03 |
| 3 | Listing fees, Stock Exchange processing/ listing fees, software fees, Depositories’ fees, other regulatory expenses and sundry expenses | 0.36 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹159.00 |
| Open | ₹165.10 |
| Low | ₹165.10 |
| High | ₹173.35 |
| Last Trade | ₹173.35 |
Lead Manager Reports
Chandan Healthcare IPO is a SME IPO of 67,52,000 equity shares of the face value of ₹10 aggregating up to ₹107 Crores. The issue is priced at ₹159 per share. The minimum order quantity is 800.
The IPO opens on Mon, Feb 10, 2025, and closes on Wed, Feb 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 Mon, Feb 10, 2025 and closes on Wed, Feb 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 Fri, Feb 14, 2025. Check the Chandan Healthcare IPO allotment status.
The Chandan Healthcare IPO listing date is on Mon, Feb 17, 2025.
