Chandan Healthcare IPO Shares listed at ₹165.10, a 3.8% premium over the issue price of ₹159. The stock later rose to ₹173.35, marking an additional 3% gain after the opening. Chandan Healthcare’s IPO saw strong demand, with total subscriptions of 7.04x.
Anchor investors fully subscribed 18,48,800 shares, while Qualified Institutional Buyers (QIBs) subscribed 7.58x, bidding for ₹148.77 crores. Non-Institutional Buyers (NIBs) oversubscribed 18.85x, bidding ₹277.49 crores. Retail investors subscribed 2.44x, with bids totaling ₹83.84 crores. The total bid amount reached ₹510.91 crores.
Chandan Healthcare’s IPO, priced at ₹159, listed at ₹165.10, a 3.84% premium over the allotment price. The last GMP was ₹0, indicating no expected profit or loss. Despite a flat GMP, the stock performed positively on listing, trading above the grey market price of ₹159.
Overview of Contents
Details About Chandan healthcare IPO
Chandan Healthcare’s IPO, approved by SEBI, aims to raise ₹107.36 crores, consisting of a fresh issue of ₹70.79 crores and an offer-for-sale of up to 22,99,936 equity shares.
The price band is set between ₹151 to ₹159 per share. The retail lot size is 800 shares, with a minimum and maximum investment of ₹1,27,200. The S-HNI category has a lot size of 1,600 shares, requiring a minimum investment of ₹2,54,400.
Chandan Healthcare Funds Deployment
The raised funds will be used to establish a new flagship diagnostic center in Jankipuram, Lucknow, and a central reference laboratory in Ayodhya and Ashiyana, both in Uttar Pradesh. The remaining funds will be allocated for general corporate purposes.
Chandan Healthcare IPO Company Financial Performance
As of December 31, 2024, Chandan Healthcare reported total assets of ₹170.06 crore and total revenue of ₹167.99 crore.
The company achieved a profit after tax (PAT) of ₹17.42 crore, up from ₹16.36 crore in March 2024 and a significant improvement from ₹3.59 crore in March 2023. Net worth as of March 2024 stood at ₹41.09 crore, with reserves and surplus at ₹34.31 crore. Total borrowings increased to ₹51.92 crore from ₹42.01 crore in March 2024.
About Company
Founded in September 2003, Chandan Healthcare Limited has become a prominent diagnostic service provider in North India, excelling in pathology and radiology testing. With a robust network that includes a flagship lab, seven central labs, 26 satellite centers, and over 300 collection points across Uttar Pradesh and Uttarakhand, the company offers a comprehensive range of 1,496 tests.
These include 481 routine pathology tests, 1,015 specialized tests, and 545 radiology tests, supported by advanced equipment like 11 CT scanners and four MRI machines. The company also offers home collection services and preventive health checkups. Financially, Chandan Healthcare recorded ₹17,659.01 lakh in revenue and ₹1,635.51 lakh in PAT for FY 2024. Despite facing competition, its strategic presence in tier-2 and tier-3 cities and integrated service model solidify its position as an industry leader.
