Chandan Healthcare IPO opens today: Subscription status, GMP & other key details about this ₹107 crore SME issue | Stock Market News
Source: Live Mint
Chandan Healthcare IPO: The initial public offer (IPO) of Chandan Healthcare, which runs diagnostic centres in North India, kicked off for subscription on Monday, February 10 and will remain open till Wednesday, February 12.
Chandan Healthcare IPO price band has been fixed at ₹151 to ₹159 per share, with the company looking to raise over ₹107 crore at the upper end of the price band.
The issue is a combination of a fresh issue of 44.52 lakh shares worth ₹70.79 crore and an offer for sale of 23 lakh shares, amounting to ₹36.57 crore.
The minimum lot size for an application is 800 shares, with the minimum application requirement by retail investors fixed at ₹1,27,200.
In Chandan Healthcare IPO not more than 50% of the offer is reserved for qualified institutional buyers (QIBs), not less than 35% for retail investors and not less than 15% for non-institutional investors (NIIs).
Chandan Healthcare IPO Objective
The company plans to use the funds raised via the fresh share sale component to set up a new diagnostic centre in Lucknow, along with a central reference laboratory at Ayodhya and Lucknow in Uttar Pradesh. The remaining funds will be utilized for general corporate purposes.
Chandan Healthcare IPO Subscription Status
As of 12.45 pm, Chandan Healthcare IPO was subscribed 0.07 times, with the portion allotted to retail investors booked 0.14 and NIIs 0.03 times. The QIB portion has not received any bids so far.
Chandan Healthcare IPO GMP Today
The grey market premium (GMP) for Chandan Healthcare IPO is ₹10. This means Chandan Healthcare shares could list at ₹169 apiece on the NSE SME platform, up 6% over the IPO price of ₹159.
Shares of Chandan Healthcare IPO are slated to list on Monday, February 17.
About Chandan Healthcare
Chandan Healthcare has a diagnostic in North India, with pathology and radiology testing services. As of December 31, 2024, it had one flagship laboratory, nine central laboratories, twenty-seven satellite centres, and more than three hundred collection centres located in Jaipur and across Uttar Pradesh and Uttarakhand.
In Fiscal 2025, till December 2024, the company carried out around 55.79 lakh tests on about 17.11 lakh patients’ where about 70.04% of the revenue was derived from operations in Uttar Pradesh. The company offers a wide range of 1,496 tests across different specialities. For the period ended December 2024, the sale of products accounted for 47% of total revenue, pathology services made up 34.22% of total revenue, and radiology services accounted for 18.77% of total revenue.
Disclaimer: The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
