Chandan Healthcare IPO opens for subscription on February 10, 2025, aiming to raise ₹107 crore. The IPO will list on the NSE SME platform on February 17, 2025.
Chandan Healthcare, a leading diagnostic service provider operating in North India, has opened its Initial Public Offering (IPO) for subscription on February 10, 2025. The company is set to raise ₹107 crore through the IPO, with the share price band fixed between ₹151 and ₹159 per share. The offer will remain open until February 12, 2025. Shares are expected to be listed on the NSE SME platform on February 17, 2025.
About Chandan Healthcare:
Chandan Healthcare is a prominent diagnostic services provider specializing in pathology and radiology testing across North India, particularly in Uttar Pradesh, Uttarakhand, and Jaipur. As of December 2024, the company operates a flagship laboratory, nine central laboratories, twenty-seven satellite centres, and more than three hundred collection centres. Chandan Healthcare provides a wide range of diagnostic tests and has served millions of patients since its establishment.
The company plans to utilize the funds raised from the fresh issue of ₹70.79 crore to set up new diagnostic centres in Lucknow, along with a central reference laboratory at Ayodhya and Lucknow. The remaining funds will be used for general corporate purposes.
IPO Details:
- Price Band: ₹151 to ₹159 per share
- Offer Size: ₹107 crore
- Fresh Issue: ₹70.79 crore (44.52 lakh shares)
- Offer for Sale: ₹36.57 crore (23 lakh shares)
- Lot Size: Minimum 800 shares (₹1,27,200)
- Investor Allocation: 50% for Qualified Institutional Buyers (QIBs), 35% for Retail Investors, and 15% for Non-Institutional Investors (NIIs)
Chandan Healthcare IPO Subscription Status:
As of 12:45 PM on February 10, 2025, the IPO had been subscribed 0.07 times. The retail investor portion was booked 0.14 times, while the NII portion saw 0.03 times subscription. The QIB portion had not received any bids yet.
Grey Market Premium (GMP):
The grey market premium (GMP) for the Chandan Healthcare IPO is ₹10. This suggests that the shares could list at ₹169 apiece, reflecting a 6% premium over the upper price band of ₹159.
The IPO is expected to help Chandan Healthcare further expand its presence in the diagnostics industry, strengthening its footprint in Uttar Pradesh and beyond, with an emphasis on state-of-the-art laboratories and diagnostic centres.
Subscription and Allotment:
Investors can track the status of the IPO subscription on the official portal of the IPO registrar, and the allotment of shares is expected to take place soon after the closure of the subscription period.
