Chandan Healthcare Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹159
Per ShareLot Size
800 Shares
Minimum Investment
₹1,27,200
Issue Size
₹107.36 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Chandan Healthcare Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
69.96%
Promoter Holding (Post-Issue)
49.2%
Issue Type
Book Building - SME
ISIN
INE0B2N01016
About the Company
We run a diagnostic network in North India with pathology and radiology testing services. As of December 31, 2024, we have one flagship laboratory, nine central laboratories, twenty-seven satellite centres, more than three hundred collection centres and located in Jaipur and across Uttar Pradesh and Uttarakhand, with facilities in more than 23 cities and towns across Uttar Pradesh and more than 19 cities and towns in Uttarakhand. Out of our various laboratories, eight are National Accreditation Board for Testing and Calibration Laboratories ("NABL") accredited while three of our diagnostic centres have National Accreditation Board for Hospitals & Healthcare Providers ("NABH") accreditation. In Fiscal 2025, till December 2024 we carried out around 55.79 lakhs tests on about 17.11 lakh patients' where we derived about 70.04% of the revenue from our operations in regions of Uttar Pradesh.
Industry Overview
The hospital industry in India, accounting for 80% of the total healthcare market, is witnessing a huge investor demand from both global as well as domestic investors. India ranks 10th in Medical Tourism Index (MTI) for 2020-2021 out of 46 destinations of the world. Foreign Tourists Arrival on medical purpose increases from 1.83 Lakh in 2020 to 5.04 Lakh in 2023 (Jan-Oct). The diagnostics industry in India is currently valued at $ 4 Billion. The share of the organized sector is almost 25% in this segment (15% in labs and 10% in radiology).
Company History
The Company was incorporated as a public limited Company under the name "Chandan Healthcare Limited", under the provisions of the Companies Act, 1956 and Certificate of Incorporation was issued by the Registrar of Companies, U.P. & Uttaranchal, Kanpur on September 03, 2003.
Products & Services
- The Company runs a diagnostic network in North India with pathology and radiology testing services.
Growth Strategy
- Strengthen our position in our core geography i.e. Uttar Pradesh.
- Continue to Focus on Providing Customer Centric Services and Offerings.
- Boost our revenue by establishing strategic B2B and corporate partnerships.
- Leverage technology to enhance the customer experience.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 67,52,000 equity shares of face value of Rs. 10 each ("Equity Shares") of Chandan Healthcare Limited ("Company" or the "Issuer") for cash at a price of Rs. 159 per equity share (including a share premium of Rs. 149 per equity share) ("Offer Price") aggregating Rs. 106.99 crores comprising a fresh issue of 44,52,064 equity shares aggregating Rs. 70.42 crores by the company ("Fresh Issue") and an offer for sale of 22,99,936 equity shares aggregating Rs. 36.57 crores (the "Offered Shares") comprising of 17,54,936 equity shares by Amaranita Holdings (India) Private Limited, 1,10,000 equity shares by Jagjeet Singh Kalsi, 1,00,000 equity shares by Deepak Kumar Sirohi, 50,000 equity shares by Ajai Singh, 50,000 equity shares by Bimla Singh, 50,000 equity shares by Vikas Lamba, 50,000 equity shares by Anchal Sirohi, 50,000 equity shares by Hari Shanker Dixit, 50,000 equity shares by Shital Singh Solanki, 25,000 equity shares by Vikalp Dixit and 10,000 equity shares by Brahm Prakash aggregating Rs. 36.57 crores (the "Selling Shareholders" and such offer, the "Offer for Sale") (the "Offer for Sale" and together with the fresh issue, the "Offer") of which 3,39,200 equity shares aggregating to Rs. 5.39 crores will be reserved for subscription by market maker to the offer (the "Market Maker Reservation Portion"). The offer includes a reservation of 2,45,600 equity shares, aggregating Rs. 3.54 crores, for subscription by eligible employees (as defined herein) not exceeding 1.00% of its post-offer paid-up equity share capital ("Employee Reservation Portion"). The offer, less employee reservation and market maker reservation, i.e. net offer 61,67,200 equity shares of face value of Rs. 10 each at price of Rs. 159 per equity share aggregating to Rs. 98.06 crores is herein after referred to as the "Net Offer". The company and the selling shareholders may, in consultation with the book running lead manager, offer a discount of Rs. 15 of the offer price to eligible employees bidding in the employee reservation portion ("Employee Discount"). The offer and the net offer will constitute 27.61% and 25.22% respectively of the fully-diluted post-offer paid-up equity share capital of the company. The face value of equity shares is Rs. 10 each. The offer price is 15.90 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Strong Geographical presence in Uttarakhand.
- Integrated diagnostics provider with one-stop solution offering pathology and radiology testing, and medical consultation services.
- Track record of profitability and consistent financial performance.
- Dedicated management team with significant industry experience.
- Any interruptions at its flagship diagnostic centres may affect the company ability to process diagnostic tests, which in turn may adversely affect its business, results of operations and financial condition.
- The company business and prospects may be adversely affected if its unable to maintain and grow the company brand name and brand image.
- The company is dependent on B2C and few other customers for a major part of its revenues. Further the company does not enter long-term arrangements with its customers and any failures to continue the company existing arrangements could adversely affect its business and results of operations.
- Any non-renewal or cancellation of its arrangements with the company institutional customers, including hospitals, and government agencies may adversely affect its business, results of operations and financial condition.
- The company operations are only focused on Uttar Pradesh and Uttarakhand, and any loss of business in such region could have an adverse effect on its business, results of operations and financial condition.