Chandan Healthcare IPO Day 1: GMP, Subscription Status, Price Band, Offer Size And More
Chandan Healthcare IPO GMP (grey market premium) was Rs 10 apiece as of 2:37 p.m. on Feb. 10, according to InvestorGain.
Chandan Healthcare Ltd. launched its public offer on Monday to mop up Rs 107.36 crore from investors in the primary markets. The company which operates diagnostic centres has branches located in multiple cities in North India. On the opening day of Chandan Healthcare SME IPO, here is what investors must know about the offer, price band, GMP and other details.
Chandan Healthcare IPO: Key Details
The Chandan Healthcare IPO consists of a fresh issue of 44.52 lakh shares worth Rs 70.79 crore and an offer for sale of 23 lakh shares aggregating to Rs 36.57 crore.
The NSE SME IPO will remain open for bidding from Feb. 10 to Feb. 12
Share allotment for the IPO is likely to be done on Thursday, Feb. 13. Successful bidders will receive credit of shares to their demat accounts on Friday, Feb 14, while refunds will be issued to the unsuccessful ones on the same day.
Shares of Chandan Healthcare are likely to be listed on the NSE SME platform Emerge on Monday, Feb. 17.
The company has reserved 50% of the net issue for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
Chandan Healthcare IPO price band has been set at Rs 151 to Rs 159 per share. A single lot of the IPO comprises 800 shares, taking the minimum investment amount for retail investors to Rs 1,27,200.
KFin Technologies Ltd. is the registrar for the Chandan Healthcare IPO, while Unistone Capital Pvt. has been appointed as its book-running lead manager. RK Stock Holding Pvt. is the market maker for the issue.
Chandan Healthcare IPO: Day 1 Subscription Status
Chandan Healthcare IPO has been subscribed 0.13 times as of 4:10 p.m. on Monday, as per market tracking site Chittorgarh:
Qualified Institutional Buyers: nil
Non-Institutional Investors: 0.07 times
Retail Investors: 0.24 times
*The subscription status will be updated at regular intervals.
Chandan Healthcare IPO GMP Today
Chandan Healthcare IPO GMP (grey market premium) was Rs 10 apiece as of 2:37 p.m. on Feb. 10, according to InvestorGain. This indicates a listing gain of 6.29%, with the shares expected to debut on NSE SME at Rs 169 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.
About Chandan Healthcare
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.
Use Of Proceeds
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.
Financials
Chandan Healthcare Ltd. saw a revenue of Rs 168 crore and a net profit of Rs 17.42 crore for the period up to Dec. 31, 2024. In FY24, its revenue jumped 30% to Rs 177.96 crore from Rs 137.03 crore in FY23. The net profit during this fiscal rose over four-fold year-on-year to Rs 16.36 crore from Rs 3.59 crore.
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.
