Clinitech Laboratory IPO Closed
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Schedule of Clinitech Laboratory
| Issue open date | 25 Jul 2024 |
| Issue close date | 29 Jul 2024 |
| UPI mandate deadline | 29 Jul 2024 (5 PM) |
| Allotment finalization | 30 Jul 2024 |
| Refund initiation | 31 Jul 2024 |
| Share credit | 31 Jul 2024 |
| Listing date | 01 Aug 2024 |
| Mandate end date | 13 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 29 Aug 2024 |
| Lock-in end date for anchor investors (remaining) | 29 Oct 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Clinitech Laboratory
Clinitech Laboratory Limited’s IPO is scheduled to launch on July 25, 2024, with subscriptions closing on July 29, 2024. Incorporated in 1990, Clinitech Laboratory Limited is focused on offering healthcare and diagnostic services and testing via a network of eight diagnostic clinics situated in and around Thane and Navi Mumbai.
The company conducts over 300,000 tests annually across its centres. These tests are performed in NABL (National Accreditation Board for Testing and Calibration Laboratories) accredited laboratories, equipped to handle Biochemistry, Immunology, Hematology, Molecular Biology, Serology, Microbiology, and Histopathology tests.
Financials of Clinitech Laboratory
Issue size
| Funds raised in the IPO | Amount |
| Overall | ₹5.78 crores |
| Fresh issue | ₹5.78 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Expansion of Diagnostic Business | 4.99 (92.28%) |
| Working Capital requirements | 0.41 (7.72%) |
*All figures except EPS are in ₹ crores
Strengths
- NABL accreditation: The company has received a Certificate of Accreditation from NABL (National Accreditation Board for Testing and Calibration Laboratories) under ISO 15189:2012 for its medical testing facilities at Airoli, Navi Mumbai.
- Chain of diagnostic centers: Operates 8 diagnostic centres in Thane, Raigad, and Navi Mumbai with over 30 years of experience in these regions.
- Strong and long-standing customer relationships: Long-standing client relationships help secure repeat business and allow for cross-selling of products and services.
- Experienced management and leadership team: Led by seasoned professionals with extensive experience in the education industry, the management team provides strategic direction and operational expertise, driving the company’s growth and stability.
Risks
- Quality standards: The inability to maintain quality standards could negatively impact business operations and financial health. Rapid changes in customer expectations and failure to meet these could have adverse effects.
- Brand and reputation: The company’s success relies on maintaining and growing its brand name and image. Factors such as quality, accuracy, efficiency, and patient satisfaction are critical.
- Skilled personnel: Dependence on skilled personnel like Lab Staff and Doctor Consultants is high. Difficulty in recruiting and retaining skilled manpower could affect operations and growth.
- Local competition: The diagnostics industry is highly competitive and fragmented, with numerous organized and unorganized players, affecting market share and profitability.
Note:
- The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
- The allotment status will be available by July 31, 2024, on the registrar’s website and the NSE website.