Fixed Price IPO | ₹50 Cr | Listed at NSE SME | Thu, Oct 28, 2021 - Tue, Nov 2, 2021
Nidan Laboratories IPO is a fixed price issue of ₹50.00 crores. The issue is entirely a fresh issue of 0.40 crore shares of ₹50.00 crore.
Nidan Laboratories IPO bidding started from Oct 28, 2021 and ended on Nov 2, 2021. The allotment for Nidan Laboratories IPO was finalized on Nov 9, 2021. The shares got listed on NSE SME on Nov 12, 2021.
Nidan Laboratories IPO price is ₹125 per share. The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹1,25,000 (1000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,000 shares), amounting to ₹2,50,000.
First Overseas Capital Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is NNM Securities Pvt.Ltd..
Refer to Nidan Laboratories IPO RHP for detailed Information.
IPO Open
Thu, Oct 28, 2021
IPO Close
Tue, Nov 2, 2021
Issue Price
₹125 per share
Market Cap (Pre-IPO)
₹173.75 Cr
| IPO Date | 28 Oct to 2 Nov, 2021 |
| Listed on | Fri, Nov 12, 2021 |
| Face Value | ₹10 per share |
| Issue Price | ₹125 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 40,00,000 shares (agg. up to ₹50 Cr) |
| Reserved for Market Maker | 2,00,000 shares NNM Securities Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 38,00,000 shares (agg. up to ₹48 Cr) |
| Net Offered to Public | 38,00,000 shares (agg. up to ₹48 Cr) |
| Share Holding Pre Issue | 99,00,000 shares |
| Share Holding Post Issue | 1,39,00,000 shares |
| NSE Symbol | NIDAN |
| ISIN | INE0J6L01013 |
Nidan Laboratories IPO comprises a total issue size of 40,00,000 shares. The net offer to the public is 38,00,000 shares, after excluding 2,00,000 shares allotted on a firm basis. Of the Net offer 19,00,000 (50.00%) allocated to NII 19,00,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 19,00,000 | 50.00% | 47.50% |
| Retail Shares Offered | 19,00,000 | 50.00% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,00,000 | 5.00% | |
| Total Shares Offered | 40,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,25,000 |
| Retail (Max) | 1 | 1,000 | ₹1,25,000 |
| HNI (Min) | 2 | 2,000 | ₹2,50,000 |
Incorporated in the year 2000, Nidan Laboratories and Healthcare Limited offer diagnostic services including radiology, neurology, cardiology, dental as well as pathology services. As of March 31, 2021, the company offered approximately 740 routine and 3000 specialized pathology tests and approximately 220 basic and 320 advanced radiology tests that cover a range of specialties and disciplines. The company provides pathology tests ranging from basic biochemistry and clinical pathology to cytogenetic and high-end molecular diagnostic tests, and radiology tests ranging from basic echocardiograms, X-Rays, and ultrasounds to advanced radiology tests including computerized tomography (CT) scans, magnetic resonance imaging (MRI) scans. The company also offers a broad spectrum of customized health and wellness packages to its customers and offers value-added services to its customers such as a home collection of specimens, house calls, and various delivery or access modes for test reports.
Nidan has come out with a unique appointment booking mobile application under the name of "NIDAN HEALTHCARE" which is supported by self-indigenous software called "Nidan Operation Management (NOM)." This unique app enables patients to book appointments for any test, from anywhere, at any time. The company has also tied up with pathology partners like Metropolis Laboratories Limited for its services.
Out of the 35 centers operating under the brand name of "Nidan Healthcare", 16 centers are under the Franchisee model where 1 center acts as a fully operated diagnostic center and 15 centers act solely as standalone collection centers. As of June 30, 2021, the company had a total of 213 employees. The company has got recognitions like the Best Diagnostic Chain of India Award 2019, in the Category of 20+ diagnostic centers by Express Healthcare.
Competitive Strengths:
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of Loans | 16.00 |
| 2 | Additional Working Capital | 26.00 |
| 3 | General Corporate Expenses | 4.40 |
| 4 | To meet the expenses of the Issue | 3.60 |
The Nidan Laboratories and Healthcare IPO is subscribed 1.8 times on November 2, 2021 5:00:00 PM (Day 4). The public issue subscribed 3.44 times in the retail category, [.] times in the QIB category, and 0.15 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.15 | 19,00,000 | 2,85,000 |
| Retail | 3.44 | 19,00,000 | 65,41,000 |
| Total | 1.8 | 38,00,000 | 68,26,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses | 2.60 |
| 2 | Advertising and marketing expenses | 0.60 |
| 3 | Printing & Stationery, Distribution, Postage | 0.05 |
| 4 | Regulatory and other statutory expenses including Listing Fee | 0.35 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹125.00 |
| Open | ₹123.90 |
| Low | ₹117.75 |
| High | ₹123.90 |
| Last Trade | ₹117.75 |
Lead Manager Reports
Nidan Laboratories IPO is a SME IPO of 40,00,000 equity shares of the face value of ₹10 aggregating up to ₹50 Crores. The issue is priced at ₹125 per share. The minimum order quantity is 1000.
The IPO opens on Thu, Oct 28, 2021, and closes on Tue, Nov 2, 2021.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Nidan Laboratories IPO using UPI as a payment gateway. Zerodha customers can apply in Nidan Laboratories IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Nidan Laboratories IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Nidan Laboratories IPO opens on Thu, Oct 28, 2021 and closes on Tue, Nov 2, 2021.
Nidan Laboratories IPO lot size is 1000, and the minimum amount required for application is ₹1,25,000.
You can apply in Nidan Laboratories 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 Nidan Laboratories IPO will be done on Tuesday, November 9, 2021, and the allotted shares will be credited to your demat account by Thu, Nov 11, 2021. Check the Nidan Laboratories IPO allotment status.
The Nidan Laboratories IPO listing date is on Fri, Nov 12, 2021.
