Chandan Healthcare IPO GMP, Price, Date & Complete Details

Chandan Healthcare IPO-Complete Overview

Chandan Healthcare IPO under the SME IPO category is a book-build issue of Rs.107.36 Cr (67,52,000 Shares) by Chandan Healthcare Limited, which was incorporated in September 2003. It opened diagnostic centers with pathology and radiology services in Northern India. 

As of 31st December 2024, the company has one flagship lab, seven central labs, twenty-six satellite centers, and over 300 collection centers in more than 23 cities of Uttar Pradesh and over 19 cities of Uttarakhand. The company performs 1,496 distinct tests in different specialties. The test menu comprises:

481 regular biochemistry and/or hematological pathology tests basic 1,015 specialized tests such as immunohistopathology and molecular pathology, and 545 radiological x-rays, ultrasound, CT, MRI, and specialized CT scan examinations.

The radiology facilities include at least eleven CT scan machines and a minimum of four MRI machines. 

 

Goods and services provided: 

The main type of activity is related to conducting diagnostics, with the occasional sale of consumable items such as X-ray films and reagents. In Chandan Pharmacy Limited, which is a subsidiary, retail medical stores are serviced by pharmacists.

1. Routine Pathology Testing 

2. Special Pathology Testing

3. Radiology Pathology Testing

4. Preventive and Wellness Services

5. Home Collection Service.

 

Chandan Healthcare IPO Overview

This Chandan Healthcare IPO date is 10 February 2025, and its ‘initial public offering’ will end on 12 February 2025.    

This Rs.107.36 crore new SME IPO comprises a fresh issue of 44.52 lac Shares (Rs.70.79 Cr) and an offer for sale of 23 lac Shares (Rs.36.57 Cr).

This upcoming IPO date is on 10 Feb 2025. The Chandan Healthcare IPO Price is Rs.151 to Rs.159 for each Share. 

The expected IPO listing date is 17 Feb 2025, and the listing at NSE and SME.

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Company Financial

(Amount in Cr)

 

Cash Flows

The cash flows for various activities are mentioned below:

(Amount in lac)

 

Industry-wise Revenue Breakdown 

(Amount in lac)

 

State-wise Revenue Breakdown 

(Amount in lac)

(Source: RHP)

 

The Objective of The Issue

• Establishing a new Flagship Diagnostic Center in Jankipuram, Uttar Pradesh's Lucknow.

• Setting up a new Central Reference lab in Uttar Pradesh's Ayodhya.

• Setting up a new Central Reference lab in Ashiyana, Uttar Pradesh's Lucknow.

• General corporate purposes.

 

Peers of Chandan Healthcare Ltd. 

 

Evaluation

The IPO price is Rs.151 to Rs.159 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2024 with an EPS of Rs.8.14 from the last year, the resulting P/E ratio is 19.53x.

Considering the weighted EPS of Rs.4.54 for the last three years, the P/E ratio is 35.02x.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 75.05x.

In simple words, the P/E ratio of this IPO (19.53x), compared with the industry’s average P/E of 75.05x, has an undervaluation (on a P/E ratio basis only). Hence the price of the Share seems fully priced for the investors when considered based on the average P/E ratio of the industry.

 

IPO's Strengths

• A strong regional presence in Uttarakhand comprises 39 tier-two cities and towns.

• Integrating diagnostics with pathology and radiology testing with medical consultations.

• The Group has consistently generated revenue and profits, thus maintaining positive financial performance.

• The Management considers this business as a matter of focus and therefore, they are highly experienced within the sector.

 

Weaknesses of the IPO

• Any disruption to the primary diagnostic centers will hinder the conducting of diagnostic tests, which will have negative repercussions on the business as a whole.

• If the brand name and brand image are not sustained and built upon, the Company and its business prospects will suffer detrimentally.

• The company depends on B2C and some other clients for a significant portion of its earnings.

 

Chandan Healthcare IPO GMP 

Chandan Healthcare IPO GMP is Rs.0 as of 05 Feb 2025.

IPO Timetable (Tentative)

The IPO date is February 10, with allotment on February 13, refund initiation on February 14, and listing on 17 February 2025.

 

Chandan Healthcare IPO Details 

The IPO with a Face Value of Rs.10 per share offers a total issue size of 67,52,000 Shares (Rs.107.36 Cr).

 

Chandan Healthcare IPO Lot Details 

The Chandan Healthcare Energy Limited IPO allows retail investors to invest in a minimum and maximum of 1 Lot (800 Shares) amounting to Rs.1,27,200 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (1600 Shares) amounting to Rs.2,54,400.

 

IPO Reservation (% of Net Issue)

 

Promoters And Management of Chandan Healthcare Ltd.

• Amaranita Holdings (India) Private Limited

• Amar Singh

• Asmita Singh

• Alok Singh

• Shaleen Solanki

• Vijay Singh

• Vinay Lamba.
  
  

 

 

 

IPO Lead Managers

Unistone Capital Pvt Ltd.

Dividend Policy

The company has paid a total dividend of Rs.300 lac in FY2024.

Conclusion

Chandan Healthcare IPO is an opportunity for the company with a significant presence in UP and Uttarakhand in pathology and radiology services. The company has shown steady financial growth and profitability. Nevertheless, risks like brand dependency and operational disruption should be taken into consideration before investing.

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DISCLAIMER: NOT a buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always discuss with an eligible financial advisor before investing.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company  Click Here to Download the DRHP.

DISCLAIMER: This is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions. 

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