Chandan Healthcare IPO
GMP, Subscription, Price, Dates & Financial Details
Chandan Healthcare Limited operates a diagnostic network in North India, offering both pathology and radiology testing services. As of December 31, 2024, the company operates one flagship laboratory, nine central laboratories, and 27 satellite centers, along with over 300 collection centers. These…
Open Date
Mon, 10 Feb 2025
Close Date
Wed, 12 Feb 2025
Price Band
₹ 151 – 159
Lot Size
800
Issue Size
₹ 107.36 Cr
Minimum Investment
₹ 254,400 (1600 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Chandan Healthcare IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹107.36 Crore, comprising a fresh issue of 44.52 Lakh equity shares aggregating to ₹70.79 Crore and an offer for sale (OFS) of 23.00 Lakh equity shares aggregating to ₹36.57 Crore by the existing shareholders.
The Chandan Healthcare IPO remained open for subscription from February 10, 2025, to February 12, 2025. The basis of allotment was finalized on February 13, 2025, and the company's shares were listed on NSE SME Platform on February 17, 2025.
The company had fixed the price band at ₹151 to ₹159 per share, with a lot size of 800 shares. Retail investors were required to make a minimum investment of ₹254,400 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. Unistone Capital Pvt Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Chandan Healthcare Limited is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Chandan Healthcare IPO Timeline (Tentative)
- IPO Open Date
- Mon, 10 Feb 25
- IPO Close Date
- Wed, 12 Feb 25
- Basis of Allotment
- Thu, 13 Feb 25
- Initiation of Refunds
- Fri, 14 Feb 25
- Credit of Shares to Demat
- Fri, 14 Feb 25
- Listing Date
- Mon, 17 Feb 25 — NSE & BSE
Open Date
10 February 2025
Close Date
12 February 2025
Basis Of Allotment
13 February 2025
Listing Date
17 February 2025
IPO Subscription
Check Live Subscription →The Chandan Healthcare IPO has received bids for 3,24,72,000 shares against 45,62,640 shares offered, resulting in an overall subscription of 7.12x. the NII category is subscribed 19.23x, Retail Investors 2.44x, Employees 0.21x, and QIBs 7.59x.
QIB
7.59x
NII
19.23x
RII
2.44x
EMP
0.21x
Total
7.12x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 21,58,520 shares, representing 31.97% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 12,33,440 shares (18.27%), while Non-Institutional Investors (NIIs) receive 9,25,080 shares (13.7%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 1,850,160 | 27.4% |
| Qualified Institutions | 1,233,440 | 18.27% |
| Non-Institutional | 925,080 | 13.7% |
| Retail Investors | 2,158,520 | 31.97% |
| Employees | 245,600 | 3.64% |
| Total | 6,752,000 | 100% |
Financials Details(₹ in Crores)
| Particular | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 170.06 | 128.86 | 97.83 | 81.23 |
| Revenue | 167.98 | 177.95 | 137.03 | 119.92 |
| Profit After Tax | 17.42 | 16.36 | 3.59 | -1.09 |
| Net Worth | 54.31 | 41.09 | 27.3 | 23.93 |
| Reserve & Surplus | 34.31 | 21.16 | 7.37 | 4 |
| Total Borrowings | 51.92 | 42.01 | 21.36 | 16.58 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Chandan Healthcare Limited KPI Information
| Particular | KPI as of Mar 31, 2024. |
|---|---|
| ROE % | 47.5 |
| ROCE % | 35.2 |
| Debt / Equity | 1.02 |
| RoNW % | 39.54 |
| Pat Margin % | 9.26 |
Peers Comparison
No Peer Comparision Available
About Chandan Healthcare Limited
Chandan Healthcare Limited operates a diagnostic network in North India, offering both pathology and radiology testing services. As of December 31, 2024, the company operates one flagship laboratory, nine central laboratories, and 27 satellite centers, along with over 300 collection centers. These facilities are spread across cities in Uttar Pradesh and Uttarakhand. Notably, eight laboratories have National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation, and three diagnostic centers hold National Accreditation Board for Hospitals & Healthcare Providers (NABH) accreditation.
Services and Revenue:
- Chandan Healthcare provides a broad range of over 1,496 tests, including routine pathology tests (biochemistry, hematology) and specialized tests (e.g., molecular pathology, immunohistochemistry, MRI, CT scans).
- The company also offers radiology services, operating 11 CT scanners and 4 MRI machines.
- Revenue distribution in 2024 shows 47% from product sales, 34.22% from pathology services, and 18.77% from radiology services.
- A significant portion of revenue comes from B2B sales to corporate clients, contributing over 60% of total revenue in recent years, while B2C (individual patient) revenue contributes about 37.69%.
Operational Model:
- Chandan Healthcare follows a hub-and-spoke model, where samples are collected from various centers (including home collection services) and transported to central labs for testing. This enhances efficiency and reaches customers in remote areas.
- It operates in multiple locations with a total of one flagship laboratory, nine central reference laboratories, and 27 satellite laboratories.
Key Personnel and Subsidiaries:
- The company employs radiologists, pathologists, and over 161 qualified professionals, including technicians and operators.
- Chandan Healthcare's subsidiary, Chandan Pharmacy Limited (CPL), was incorporated in 2017 and operates 31 medical stores. CPL contributes a significant portion of the group's consolidated revenue, primarily from pharmaceutical, FMCG, and surgical product sales.
Flagship and Central Laboratories:
- The flagship laboratory is located in Jankipuram, Uttar Pradesh, offering various specialized departments, including clinical biochemistry, histopathology, microbiology, and molecular pathology.
- The central laboratories are spread across Uttar Pradesh, Uttarakhand, and Rajasthan, processing routine and specialized tests.
Products and Services:
- Diagnostic services include routine and specialized pathology and radiology tests, wellness services, preventive care packages, and home collection services.
- The company also sells medical consumables, such as reagents, X-ray films, and other healthcare products through CPL, including a wide variety of pharmaceutical and surgical products.
In summary, Chandan Healthcare Limited has established a significant presence in the diagnostic sector in North India, offering integrated pathology and radiology services, while also expanding into pharmaceutical retail through its subsidiary. The company's wide service network, skilled workforce, and accreditation help maintain quality and reliability in the healthcare sector.
Chandan Healthcare IPO Promoters
- Amaranita Holdings (India) Private Limited
- Amar Singh, Asmita Singh
- Alok Singh
- Shaleen Solanki
- Vijay Singh
- Vinay Lamba
Promoters Holding
Holding Pre Issue
69.96%
Holding Post Issue
0.00%
Chandan Healthcare IPO Objective
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 Limited Address / Contact Details
Chandan Healthcare Limited
Biotech Park, Sector G,
Jankipuram, Kursi Road,
Lucknow-226021
Uttar Pradesh, India
Phone: +91 8429024430
Email: secretarial@chandan.co.in
Website: https://www.chandandiagnostic.com/
IPO Snapshot
Chandan Healthcare IPO Lot Size
The Chandan Healthcare IPO has a lot size of 800 shares. Retail investors require a minimum investment of ₹1,27,200 by applying for 1 lot (800 shares). The maximum application allowed for the retail category is 1 lots (800 shares), requiring an investment of ₹1,27,200.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 800 | 127,200.00 |
| Retail (Max) | 1 | 800 | 127,200.00 |
| S-HNI (Min) | 2 | 1,600 | 254,400.00 |
Issue Reservation
- Anchor Investors — 27.4%
- QIB — 18.27%
- NII — 13.7%
- RII — 31.97%
- EMP — 3.64%
Book Running Lead Managers
- Unistone Capital Pvt Ltd
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Chandan Healthcare IPO?
Chandan Healthcare IPO is a Book-building IPO with a total issue size of ₹107.36 crore. The Chandan Healthcare IPO price band is ₹151 to 159 per share. The Chandan Healthcare IPO subscription opens on Mon, Feb 10, 2025, and closes on Wed, Feb 12, 2025. The Chandan Healthcare IPO will be listed on the NSE. KFin Technologies Limited is the registrar for the Chandan Healthcare IPO.
When will the Chandan Healthcare IPO open for subscription?
The Chandan Healthcare IPO opens on Mon, Feb 10, 2025 and closes on Wed, Feb 12, 2025
What is Chandan Healthcare IPO Price Band?
Chandan Healthcare IPO Price Band is ₹151 to 159 per share.
What is Chandan Healthcare IPO Lot Size?
Chandan Healthcare IPO lot size is 800 shares, Retail investors need a minimum investment of ₹254400 based on the upper price band
What is the minimum investment for Chandan Healthcare IPO?
The minimum investment for Chandan Healthcare IPO is ₹254400, based on one lot of 800 shares at the upper price band of ₹159 per share.
How to apply for Chandan Healthcare IPO?
Investors can apply for the Chandan Healthcare IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Wed, Feb 12, 2025. The application amount remains blocked until the Chandan Healthcare IPO allotment is finalized.
What is Chandan Healthcare IPO Issue Size?
Chandan Healthcare IPO issue size is ₹107.36 crores.
What is the Chandan Healthcare IPO Allotment Date?
Chandan Healthcare IPO allotment date is Thu, Feb 13, 2025.
Who is the Chandan Healthcare IPO Registrar?
The registrar for Chandan Healthcare IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check Chandan Healthcare IPO allotment status, refund processing, and other IPO-related information.
What is the Chandan Healthcare IPO GMP?
The Chandan Healthcare IPO GMP (Grey Market Premium) is ₹3 as of Fri, Feb 14, 2025. Based on the upper price band of ₹159 per share, the estimated Chandan Healthcare IPO listing price is ₹162, indicating a potential listing gain of approximately 1.89% over the issue price.
Who is the Chandan Healthcare IPO Lead Manager?
The book-running lead managers (BRLMs) for the Chandan Healthcare IPO are Unistone Capital Pvt Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Chandan Healthcare IPO Red Herring Prospectus (RHP).