Chandan Healthcare came to market through an SME IPO that opened on 10 February 2025 and closed on 12 February 2025, and the shares listed on 17 February 2025 on NSE SME. The price band was ₹151 to ₹159 per share and one lot was 800 shares, so the minimum application was ₹1,27,200. The issue size was ₹107.36 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Kfin Technologies Limited was the registrar to the issue, and Unistone Capital Pvt Ltd was the lead manager.
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Chandan Healthcare Limited, incorporated in September 2003, operates diagnostic centers in North India with pathology and radiology testing services. The company operates one flagship laboratory, seven central laboratories, and twenty-six satellite centres as of August 31, 2024, with over three hundred collection centers in more than 15 cities across Uttar Pradesh and over 10 in Uttarakhand. As of August 31, 2024, the organization provides 1,118 tests in various disciplines.
The tests menu consists of 169 general pathology tests under basic biochemistry and haematology, combined with 713 specialized tests under immunohistopathology, molecular pathology, and236 radiology tests, which are x-rays, ultrasonography, CT, MRI, and specialized CT scans. The radiology equipment possesses eleven CT scanners and four MRI machines. As of 31st August, 2024, the company had 14 radiologists, 25 pathologists, and more than 161 other qualified professionals.
As described in the offer document.
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Private Limited, Amar Singh, Asmita Singh, Alok Singh, Shaleen Solanki, Vijay Singh, Vinay Lamba. Promoter holding 69.96% before the issue.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Chandan Healthcare IPO was a ₹107.36 crore book-built issue, comprising a fresh issue of ₹70.79 crore and an offer for sale of ₹36.57 crore. It was priced at ₹151–₹159 per share with a lot size of 800 shares (₹1,27,200). The IPO was open from February 10 to February 12, 2025. Shares listed on NSE SME on February 17, 2025 at ₹165.10, a 3.8% premium to the issue price of ₹159. Kfin Technologies Limited is the registrar.
Unistone Capital Pvt Ltd is the book running lead manager.
The price band of Chandan Healthcare IPO is ₹151 to ₹159 per share.
The lot size of Chandan Healthcare IPO is 800 shares.
The minimum investment for Chandan Healthcare IPO is approximately ₹1,27,200 based on the upper price band.
The allotment date of Chandan Healthcare IPO is Feb 13, 2025.
You can check Chandan Healthcare IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Chandan Healthcare IPO allotment status on Rupix for quick and easy access.
₹151 to ₹159 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 800 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,27,200. After listing, SME shares also trade in lots rather than one share at a time.
₹1,27,200, for one lot of 800 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 10 February 2025 and closed on 12 February 2025.
The basis of allotment was published on 13 February 2025 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 17 February 2025 on NSE SME.
The issue size was ₹107.36 crore. The fresh issue was 44,52,064 shares (aggregating up to ₹70.79 crore). The offer for sale was 22,99,936 shares (aggregating up to ₹36.57 crore).