Chandan Healthcare IPO allotment expected today; here’s how to check status online

Chandan Healthcare IPO allotment status is scheduled to be finalised on Thursday, February 13. The IPO investors are waiting for the company to finalise the share allotment status after the NSE SME issue closed with a decent subscription.

The ₹107.36-crore initial public offering of the diagnostic services provider was open for subscription from February 10 to February 12. The IPO was overall booked more than 7 times on the last day of bidding on Wednesday, as per the NSE data.

Chandan Healthcare IPO attracted bids for more than 3.24 crore shares against 45.64 lakh shares on offer, leading to an overall subscription of 7.11 times on the final day of subscription.

The Non-Institutional Investors (NIIs) applied for nearly 1.78 crore shares against 9.25 lakh shares set aside for the category. The NIIs segment was booked 19.22 times. The retail portion of the IPO was subscribed 2.44 times with bids for 52.72 lakh shares against the allocation of 21.59 lakh shares. The Qualified Institutional Buyers (QIBs) applied for over 93.56 lakh shares against 12.33 lakh shares reserved for the category. The QIBs segment was booked 7.58 times. The company's employees applied for 44,800 shares.

The investors, waiting for the share allotment to be finalised by the company, can check the details on the websites of the NSE and IPO registrar KFin Technologies.

Steps to check Chandan Healthcare IPO allotment status on NSE website:

• Visit the NSE IPO allotment status page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Choose Equity & SME IPO bid details
• Select Chandan Healthcare Limited from the list of issue names
• Enter your application number and PAN details
• Click on the ‘Submit’ button to view the allotment status

Steps to check IPO allotment status on Kfin Technologies

• Open the IPO allotment status page on the official website of issue registrar, KFin Technologies: https://ipostatus.kfintech.com/
• Select Chandan Healthcare Limited from the drop-down list for company names
• Choose any of these- PAN, Application Number, DP ID or Account Number
• Enter the relevant details for verification
• Click on the ‘Submit’ button

It’s important to note that the IPO allotment status will only appear after the company finalises the share allocation.

Chandan Healthcare IPO key details

• Chandan Healthcare IPO was a combination of a fresh issue of 44.52 lakh shares, worth ₹70.79 crore, and an offer-for-sale (OFS) of 22.99 lakh shares, aggregating to ₹36.57 crore.
• The IPO price band was fixed at ₹151 to ₹159 per share. The minimum lot size was 800 shares per application.
• Unistone Capital Private Ltd. is the book-running lead manager of Chandan Healthcare's IPO, and RK Stock Holding Private Ltd. is the market maker for it.
• The IPO allotment status is expected to be finalised on Thursday, February 13.
• Refunds will be issued on Friday, February 14, and the allottees will also receive shares in the Demat accounts the same day.
• The company has proposed to list its shares on the NSE SME platform on February 17.

About Chandan Healthcare and use of IPO proceeds

Chandan Healthcare Limited operates a comprehensive diagnostic network in North India. The company offers pathology and radiology testing services.

Chandan Healthcare’s operations include diagnostic labs, collection centres and home collection services. As of August 31, 2024, the company had a robust infrastructure with one flagship laboratory, seven central laboratories, twenty-six satellite centres and more than 300 collection centres spread across nearly 25 towns in Uttar Pradesh and Uttarakhand.

The company plans to use the IPO funds to set up a new flagship diagnostic centre in Jankipuram, Lucknow, a new central reference laboratory at Ayodhya, and Ashiyana, Lucknow, in Uttar Pradesh. The proceeds from the IPO will also be allocated towards general corporate purposes.

Chandan Healthcare financials

Key Performance Indicators (KPIs)