February 17, 2025
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What was the last grey market premium of Chandan Healthcare IPO?
Rs. 0
On 17th February 2025, the scrip is listed at Rs. 165.10, premium of 3.43% over the issue price of Rs. 159.
Subscription status of Chandan Healthcare IPO
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Chandan Healthcare Limited IPO Price Rs. 159 Lot 800 shares, Rs. 107.36 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 7.58 | 18.85 | 2.44 | 7.04 | 7,099 |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Chandan Healthcare?
Founded in September 2003, Chandan Healthcare Limited operates diagnostic centers across North India, offering pathology and radiology testing services.
As of December 31, 2024, the company manages one flagship laboratory, seven central laboratories, and twenty-six satellite centers, with over three hundred collection points spread across more than 23 cities in Uttar Pradesh and over 19 in Uttarakhand.
Chandan Healthcare provides a comprehensive range of 1,496 tests across various specialties, including:
- 481 routine pathology tests in basic biochemistry and hematology
- 1,015 specialized tests such as immunohistopathology and molecular pathology
- 545 radiology tests, including x-rays, ultrasonography, CT scans, MRI, and specialized CT scans
The company’s radiology facilities are equipped with eleven CT scanners and four MRI machines.
As of December 31, 2024, Chandan Healthcare employs 15 radiologists, 23 pathologists, and over 161 other qualified professionals.
Get more information about the company @ https://www.chandandiagnostic.com/
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Chandan Healthcare IPO Details |
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| IPO opens on | 10 February 2025 |
| IPO closes on | 12 February 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 6752000 Shares / Rs 107.36 Crore |
| * Fresh Issue | 4452064 Shares / Rs 70.79 Crore |
| * Offer for Sale – | 2299936 shares / Rs. 36.57 crore |
| Market Maker Portion | 339200 Shares |
| Net offer to Public | 6412800 Shares/ Rs 101.96 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 151-159 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 800 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 3206400 | 50.98 |
| HNI (15%) | 961920 | 15.29 |
| RII (35%) | 2244480 | 35.69 |
| Total Shares | 6412800 | 101.96 |
| Retail portion will be oversubscribed by |
2806 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 800 Shares | Rs.127200 |
| Min HNI Application | 1600 Shares | Rs 254400 |
Who are the Promoters of Chandan Healthcare?
The Company’s Promoters are Amaranita Holdings (India) Private Limited, Amar Singh, Asmita Singh, Alok Singh, Shaleen Solanki, Vijay Singh and Vinay Lamba.
What are the Objects of Chandan Healthcare IPO?
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.
Tentative timetable |
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| IPO opens on | 10 February 2025 |
| IPO Closes on | 12 February 2025 |
| IPO Allotment on | 13 February 2025 |
| Refund Initiation | 14 February 2025 |
| Credit of Shares | 14 February 2025 |
| Listing on | 17 February 2025 |
| Registered Office of the Company Chandan Healthcare Limited Biotech Park, Sector G, Jankipuram, Kursi Road, Lucknow-226021 |
| Who is the Lead Manager of this IPO? Unistone Capital Pvt Ltd |
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Who is the Registrar to IPO? |
Eleganz Interiors IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Chandan Healthcare IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 119.92 | -1.09 | ||
| 2022-23 | 137.03 | 3.59 | ||
| 2023-24 | 177.96 | 16.36 | 8.18 | 39.54 |
| Book Value of the Share on 31.03.2024 |
– | |||
| BV of the Share at cap price after IPO |
Rs. | |||
| Offer Price/upper band | Rs. | 159 | ||
Key Performance
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| Price/EPS of 23-24 | 19.44 |
| Price/BV Ratio | 7.73 |
| Debt/Equity Ratio | 1.02 |
How Chandan Healthcare IPO compares with the Peers?
There is no listed company having similar nature of business.
| As per RHP | FV | Price to | PE |
| Book Value | Ratio | ||
| Ratio | |||
| Chandan Healthcare | 7.73 | 19.44 | |
| Vijaya Diagnostics | 9.94 | 87.75 | |
| Dr. Lalpath | 10.24 | 62.34 | |
| Metropolis Healthcare | 8.05 | 72.18 | |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Chandan Healthcare IPO Review by Paresh Gordhandas, CA & Research Analyst.
Founded in September 2003, Chandan Healthcare Limited operates diagnostic centers across North India, offering pathology and radiology testing services.
As of December 31, 2024, the company manages one flagship laboratory, seven central laboratories, and twenty-six satellite centers, with over three hundred collection points spread across more than 23 cities in Uttar Pradesh and over 19 in Uttarakhand.
The company has shown sharp rise in the total revenue and net profit during the year 2021-22 to the period ended on 31.12.2024. From negative profit of Rs. 1.09 crore during 2021-22, it has shown net profit of Rs. 16.36 crore in 2023-24. At the same time, during this period, its inventories have increased from Rs. 6.59 crore to Rs. 31.28 crore. The trade-receivables has increased from RS. 28.69 crore to Rs. 39.52 crore and cash/bank balance has increased from Rs. 1.58 crore to Rs. 10.43 crore.
The size of the IPO is very large, and retail portion is Rs. 35.69 crore.
+ from fundamental angle: so-so
+ from grey market angle:
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