Docmode Health Technologies IPO:Review,Valuation,Date & GMP

Docmode Health Technologies IPO  - Complete Overview

Docmode Health Technologies Limited, founded in 2017, offers joint learning solutions for global healthcare professionals through both online and offline formats. Offline ways include conferences and workshops, while online offerings consist of courses developed by the company's content team or medical institutions and associations. 

The platform supports interprofessional learning, featuring panel discussions and courses, and provides performance assessment tools for clinical improvement. The company offers 87 certificate programs and is affiliated with over 35 medical associations and universities worldwide. Services include DocMode LERN, SURE, KNOW, CARE, and SHOP. 

As of December 31, 2023, the company had 66 employees. The focus is primarily on online learning, enabling self-paced and personalised education experiences for healthcare professionals without physical classroom constraints.

 

Docmode Health Technologies IPO Overview

Docmode Health Technologies IPO date is slated to be open for subscription from January 2024 to January 2024. This NSE SME IPO follows a Fixed Price Issue IPO.

Docmode Health Technologies IPO price is fixed at Rs. 79 per share. 

The total issue size of this IPO amounts to Rs.6.71 CR. The company has reserved 50% for institutional investors and 50% for retail investors. 

 

Docmode Health IPO timetable (Tentative)

Events	Date
IPO Opening Date	25 January 2024
IPO Closing Date	30 January 2024
IPO Allotment Date	31 January 2024
Refund initiation	1 February 2024
IPO Listing Date	2 February 2024

 

Docmode Health IPO Details

IPO Opening & Closing Date	29 January to 31 January 2024
Face value	Rs. 10 per share
Issue Price	Rs. 79 per share
Lot Size	1600 Shares
Price of 1 lot	Rs. 126,400
Total Issue Size	849,600 Shares (aggregating up to Rs. 6.71 Cr)
Fresh issue	849,600 Shares (aggregating up to Rs. 6.71 Cr)
Listing at	NSE SME
Issue Type	Fixed Price Issue IPO
Registrar	Bigshare Services Pvt Ltd

Docmode Health IPO Lot Details

Application	Lot	Shares
Minimum Lot Investment (Retail)	1 Lot	1,600
Maximum Lot Investment (Retail)	1 Lot	1,600
Minimum Lot Investment (HNI)	2 Lot	3,200

 

Docmode Health Technologies IPO Reservation

Retail Shares Offered	50%
Other Shares Offered	50%

 

 

Company Financial

The company's financials for September 30, FY23, indicate healthy growth in total assets, total revenue, and profit after tax (PAT).

(Amount In Lakhs)

Period	Sep 30, FY 23	Mar 31, FY 23	Mar 31, FY 22
Total Assets	1,764.25	1,700.88	1,008.36
Total Revenue	2,366.70	3,297.42	1,243.76
PAT	136.01	194.82	92.20
Net worth	483.55	347.53	138.71
Reserve & Surplus	254.23	118.21	137.71
Total Borrowings	811.08	847.95	483.86

Service-wise Revenue from Operations   

DocMode's service-wise revenue from operations increased sequentially in FY 23.

(Amount in Lakhs)

Particulars	Sep 30, FY 23	Mar 31, FY 23	Mar 31, FY 22
DocMode LERN	372.13	863.75	715.28
DocMode SURE	1758.92	2133.55	328.73
DocMode KNOW	229.37	290.55	115.94
DocMode CARE	-	-	-
DocMode SHOP	-	-	82.35
Total	2360.42	3287.85	1242.30

 

 

 

Revenue Distribution State-wise

In FY 23, DocMode's revenue saw a notable rise domestically, with a smaller contribution from exports.

(Amount in Lakhs) 

Particulars	Sep 30, FY 23	Mar 31, FY 23	Mar 31, FY 22
Domestic	2,353.37	3,274.22	1224.58
Export	7.05	13.62	17.72
Total	2,360.42	3,287.85	1242.30

 

Revenue by Operations

In the fiscal year 2023, DocMode's total revenue from operations included revenue from core operations and other operating income.

(Amount in Lakhs) 

Particulars	Sep 30, FY 23	Mar 31, FY 23	Mar 31, FY 22
Revenue from operations	2,360.42	3,287.84	1,242.30
Other Operating Income	6.28	9.57	1.46
Total Revenue from operations	2,366.70	3,297.42	1,243.76

 

The objective of the Issue

The company intends to use the net proceeds for the following objectives.

• Purchase of IT infrastructure and operating system

• Meeting incremental working capital requirements; and

• General corporate purposes.

 

 

Promoters and Management of Docmode Health IPO

1. Paulson Paul Thazhathedath.

2. Hans Albert Lewis.

Pre-issue Promoter Shareholding	65.02%
Post-issue Promoter Shareholding	47.44%

 

Docmode Health IPO Lead Managers

•  Fedex Securities Pvt Ltd

 

Peers of Docmode Health IPO

No companies listed in India operate in a business comparable to ours. Therefore, it is not feasible to present a comparison of key performance indicators between our company and others in the industry.

 

Evaluation

The IPO is priced within the range of Rs. 79 per share.

 

Evaluation of P/E Ratio 

- Considering the FY23 EPS of Rs 9.13 from the last year, the resulting P/E ratio is 8.65.

- Taking into account the weighted EPS of Rs 6.84  for the last three years, the P/E ratio amounts to 11.55x.

As a result, the IPO price range, with a P/E ratio ranging from 12.54x to 16.20x, seems undervalued in comparison to the industry average of 25.64.
 

Dividend Policy

The company has not distributed dividends in recent fiscal years. The possibility of future payments hinges on factors such as profits, historical dividend patterns, capital requirements, legal constraints, and other pertinent considerations assessed by our Board.

 

IPO's Strengths

1. Tech-focused, lean, and scalable business model.

2. Robust network effects driving growth across verticals.

3. Experience in the education business and professionally qualified human capital.

4. Diversified and integrated education products, services and content offerings.

5. Continue offering new course/lecture content.

IPO's Weaknesses

1. Effective execution of growth strategy and expansion plans.

2. Impact of legal changes and uncertainties.

3. Trends in higher education and online education markets.

4. Maintenance and improvement of technology infrastructure.

5. Keeping pace with rapid technological changes.

6. Competition affecting revenues and profitability.

 

IPO GMP Today 

The Latest GMP of Docmode Health Technologies IPO is Rs. 45

has not started yet.

 

 

Conclusion

In conclusion, the Docmode Health Technologies Limited IPO presents a comprehensive overview of a company with a focused approach to providing integrated learning solutions for healthcare professionals globally. The company's online and offline modules, along with its affiliations with medical associations and universities, contribute to a robust platform for interprofessional learning.

The IPO valuation, evaluated through the P/E ratio, appears undervalued compared to the industry average, potentially offering an attractive investment opportunity. However, investors should carefully consider the strengths, weaknesses, and associated risks, including effective execution of growth plans, legal changes, and competition affecting revenues and profitability.

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.

 

 

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