Chandan Healthcare IPO Day 2: Issue subscribed 35% so far; check price band, lot size and key details

Chandan Healthcare IPO: The initial share sale of Chandan Healthcare has been subscribed 0.35% so far on Tuesday, February 11, the second day of subscription.

According to the NSE data, the initial public offer got bids for 17,24,800 shares as against 49,03,200 equity shares on offer until 3:10 pm.

The ₹107.36 crore book-built issue, which will conclude on February 12, consists of a fresh issuance of 44.52 lakh shares and an offer for sale of 23 lakh shares.

The net proceeds will be used to set up a new flagship diagnostic centre and two central Reference laboratories in Uttar Pradesh. A portion will also be used for general corporate purposes.

Chandan Healthcare IPO: Lot size

Investors can apply for at least 800 shares. The investment requirement is ₹1,27,200 (cutoff price).

Chandan Healthcare IPO: Allotment and listing date

The basis of allotment will be finalised on February 13. The refund for unsuccessful investors will be processed on February 14. Shares will be credited to the Demat account of successful investors on the same day. The listing of shares will take place on February 17.

Unistone Capital Pvt Ltd is the book-running lead manager for the issue, while Kfin Technologies is the registrar. RK Stock Holding Private Ltd is the market marker for the IPO.

About the company

Chandan Healthcare runs a comprehensive diagnostic network in North India, providing radiology and pathology testing services. As of August 2024, the company has one flagship laboratory, seven central laboratories, 26 satellite centres, and more than 300 collection centres across cities and towns in Uttarakhand and Uttarakhand.

The company offers an array of diagnostic tests, including 713 specialised pathology tests and 169 routine pathology tests. It also provides 236 types of radiology tests, including ultrasonography (USG), X-rays, CT scans, and MRIs. The firm's business model heavily relies on the business-to-customer (B2C) segment.