Chandan Healthcare IPO: Latest GMP, Day 2 Subscription Status And Other Key Details

Chandan Healthcare Ltd. launched its IPO on Monday to raise Rs 107.36 crore from investors in the primary markets. The SME IPO was subscribed 0.19 times on the opening day, led by demand from retail investors.

The company which operates diagnostic centres has branches located in multiple cities in North India. As the bidding for the second day of Chandan Healthcare IPO begins, here is what investors must know about the offer, price band, GMP and other details.

• Bidding dates: Feb. 10 to Feb. 12

• Price range: Rs 151 to Rs 159

• Minimum investment: Rs 1,20,800

• IPO size: Rs 107.36 crore

• Allotment date: Feb. 13

• Listing date: Feb. 17

• Registrar: Kfin Technologies Ltd.

Chandan Healthcare IPO has been subscribed 0.35 times as of 4:15 p.m. on Tuesday, as per market tracking site Chittorgarh:

• Qualified Institutional Buyers: nil

• Non-Institutional Investors: 0.09 times

• Retail Investors: 0.7 times

*The subscription status will be updated at regular intervals.

Chandan Healthcare IPO GMP (grey market premium) was Rs 8 apiece as of 2:28 p.m. on Feb. 11, according to InvestorGain. This indicates a listing gain of 5.03%, with the shares expected to debut on NSE SME at Rs 167 apiece given that the current trends are sustained.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Diagnostic centres-operator Chandan Healthcare Ltd. has branches in North India, offering pathology and radiology testing services.

The company operated one flagship laboratory, seven central laboratories, and 26 satellite centres as of Dec. 31, 2024. It also has over 300 collection centres in 40-plus cities across Uttar Pradesh and Uttarakhand. Its subsidiary, Chandan Pharmacy, runs medical stores offering pharmaceutical products.

The company will use portions of the fresh proceeds from the IPO to set up a flagship diagnostic centre in Lucknow, and two laboratories each in Ayodhya and Lucknow. The rest of the proceeds will be used for general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.