Clinitech Laboratory IPO Day 1 Subscription Status; Check Here
Clinitech Laboratory Limited is set to launch its initial public offering to raise Rs 5.78 crores through a fixed price issue of 6.02 lakh shares.
Clinitech Laboratory Ltd. launched its initial public offering to raise Rs 5.78 crores through a fixed price issue of 6.02 lakh shares. The bidding for the SME IPO will begin on Thursday.
Clinitech Laboratory: Details of the IPO
The IPO subscription opened on July 25, 2024, and closes on July 29, 2024. The allotment for the Clinitech Laboratory IPO is expected to be finalised by July 30, 2024. Clinitech Laboratory IPO will be listed on BSE SME with the tentative listing date fixed as Thursday, August 1, 2024.
Investors can participate in the Clinitech Laboratory IPO for Rs. 96 per share. The minimum lot size for an application is 1200 shares, requiring a minimum investment of Rs. 115,200 for retail investors. High Net Worth Individuals (HNIs) can apply for a minimum of 2 lots (2,400 shares), amounting to Rs. 230,400.
Inventure Merchant Banker Services Pvt Ltd has been appointed as the book-running lead manager of the Clinitech Laboratory IPO, with Bigshare Services Pvt Ltd acting as the registrar for the issue. Svcm Securities will serve as the market maker for the IPO.
Clinitech Laboratory IPO Day 1 Subscription Status
Clinitech Laboratory IPO was subscribed 2.61 times on Thursday, July 25 at 07:02 p.m. as per the market tracking site Chittorgarh.
Non-Institutional Buyers: 0.62 times.
Retail Investors: 4.33 times.
About Clinitech Laboratory Ltd.
Founded in 1990, Clinitech Laboratory Limited specialises in providing diagnostic and health testing services. The company operates eight diagnostic centers across Thane and Navi Mumbai, offering a comprehensive range of over 150 tests.
These include Biochemical Tests, Immunology Tests, Hematology Tests, Molecular Biology Tests, Serology Tests, Microbiology Tests, and Histopathology Tests. Clinitech Laboratory conducts more than 3 lakh tests annually in its NABL (National Accreditation Board for Testing and Calibration Laboratories) accredited facilities equipped with advanced technology.
Clinitech Laboratory Limited IPO: Use of Funds and Objectives
The net proceeds from the IPO will be utilised primarily for:
Expansion of Diagnostic Centres: To enhance service coverage and infrastructure.
General Corporate Purposes: Meeting operational and administrative expenses.
Financial Performance of Clinitech Laboratory Ltd.
Clinitech Laboratory Ltd has shown varied financial performance in recent periods. The company reported a slight revenue decrease from Rs. 638.43 lakhs in March 2022 to Rs. 634.75 lakhs in March 2023, half-yearly revenue by September 2023 saw a more significant decline to Rs. 305.81 lakhs.
