Incorporated in September 2003, Chandan Healthcare Limited runs diagnostic centres in North India with pathology and radiology testing services.
As of December 31, 2024, the company operates one flagship laboratory, seven central laboratories, and twenty-six satellite centres, with over three hundred collection centres in more than 23 cities across Uttar Pradesh and over 19 in Uttarakhand.
As of December 31, 2024, the company offers 1,496 tests across different specialities. The test menu includes
- 481 routine pathology tests in basic biochemistry and haematology, plus 1,015 specialised tests like immunohistopathology and molecular pathology, and
- 545 radiology tests, including x-rays, ultrasonography, CT, MRI, and specialised CT scans.
The radiology facilities have eleven CT scanners and four MRI machines.
As of December 31, 2024, the company employed 15 radiologists, 23 pathologists, and over 161 other qualified professionals.
Products and services:
The company primarily provides diagnostic services and ad hoc sales of consumables like X-ray films and reagents. Its subsidiary, Chandan Pharmacy Limited, operates medical stores offering a range of pharmaceutical products.
- Routine Pathology Tests
- Specialized Pathology Tests
- Radiology Tests
- Preventive and Wellness Services
- Home Collection Service
Competitive Strength:
- Strong geographic presence in Uttarakhand, including 39 tier-two cities and towns.
- Integrated diagnostics provider offering pathology, radiology testing, and medical consultations.
- Track record of profitability and consistent financial performance.
- Dedicated management team with significant industry experience.
| Purpose | Amount (₹ Cr) |
|---|---|
| Setting up a new Flagship Diagnostic Centre in Jankipuram, Lucknow, Uttar Pradesh. | — |
| Setting up a new Central Reference laboratory at Ayodhya, Uttar Pradesh | — |
| Setting up a new Central Reference laboratory at Ashiyana, Lucknow, Uttar Pradesh. | — |
| General corporate purposes. | — |
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 170 | 129 | 98 |
| Revenue | 168 | 178 | 137 |
| PAT | 17 | 16 | 4 |
| Net Worth | — | 41 | 27 |
| Reserves | 34 | 21 | 7 |
| Total Borrowing | 52 | 42 | 21 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 3,082,400 (46%) | — |
| NII / HNI | — | 925,600 (14%) | — |
| Retail (RII) | — | 2,159,200 (32%) | — |
| Market Maker | — | 339,200 (5%) | — |
| Total | — | 6,752,000 (100%) | — |
* Amount calculated at upper price band (₹159) · ** Total includes all investor categories
- 1 Initiation of Refund 14 Feb 2025
- 2 Credit of Shares to Demat 14 Feb 2025
- Retail allocation is good at 32% of the total offering.
- HNI/NII demand is good at 14%.
- Institutional (QIB) interest is strong at 46%.
- The IPO P/E of 17x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹8 compares to post-issue EPS of ₹10 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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