Chandan Healthcare IPO Upcoming
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Schedule of Chandan Healthcare
| Issue open date | 10 Feb 2025 |
| Issue close date | 12 Feb 2025 |
| UPI mandate deadline | 12 Feb 2025 (5 PM) |
| Allotment finalization | 13 Feb 2025 |
| Refund initiation | 14 Feb 2025 |
| Share credit | 14 Feb 2025 |
| Listing date | 17 Feb 2025 |
| Mandate end date | 25 Feb 2025 |
| Lock-in end date for anchor investors (50%) | 15 Mar 2025 |
| Lock-in end date for anchor investors (remaining) | 14 May 2025 |
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 Chandan Healthcare
Chandan Healthcare operates a large diagnostic network in North India, with extensive pathology and radiology services across Jaipur, Uttar Pradesh, and Uttarakhand. As of December 31, 2024, the company has processed over 55.79 lakh tests from about 17.11 lakh patients, mainly generating 70.04% of its revenue from Uttar Pradesh. The network includes one flagship lab, nine central labs, and various accredited centres, offering 1,496 test types. Significant revenue streams come from B2B, B2G, and B2C segments, supported by a cluster-based model for efficiency. Additionally, its subsidiary, Chandan Pharmacy Limited, enhances revenue through sales of pharmaceuticals and FMCG across 31 stores.
Financials of Chandan Healthcare
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹107.36 crores |
| Fresh Issue | ₹70.79 crores |
| Offer for Sale | ₹36.57 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Setting up a new Flagship diagnostic centre | 32.82 (46.36%) |
| Setting up a new Central Reference Laboratory (Ayodhya) | 7.10 (10.03%) |
| Setting up a new Central Reference Laboratory (Ashiyana) | 7.10 (10.03%) |
| General corporate purposes | 23.77 (33.58%) |
Strengths
- Extensive diagnostic service network across North India.
- Holds NABL and NABH accreditations ensuring high quality standards.
- Strong market presence in Uttar Pradesh with significant revenue contributions.
- Diverse revenue streams from B2B, B2G, and B2C segments.
- Uses a cluster-based model for operational efficiency and market reach.
Risks
- High dependence on regional markets, particularly Uttar Pradesh, could pose economic risks.
- Regulatory changes may lead to increased compliance costs or operational restrictions.
- Management of an extensive facility network could impact financial stability.
- Legal and regulatory challenges could affect operational and financial conditions.
- Technological changes require continuous investment in advanced diagnostic technologies.
Allotment Status for Chandan Healthcare
To check your allotment status – click here.