Chandan Healthcare Limited IPO

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The Company operate a comprehensive diagnostic network in North India, offering pathology and radiology testing services across multiple locations. Their network includes: 1 flagship laboratory, 7 central laboratories, 26 satellite centers, 300+ collection centers and presence in 15+ cities and towns in Uttar Pradesh and 10+ cities and towns in Uttarakhand

Diverse Test Menu & Advanced Technology

They offer 1,118 diagnostic tests, categorized as follows:
i. Pathology Tests (Total: 882)
ii. Radiology Tests (Total: 236)

Expert Team & Workforce :-
i. 14 Radiologists                         ii. 25 Pathologists
iii. 161+ skilled professionals, including clinicians, technicians, and operators

Conclusion

With a strong presence in North India, a diverse test portfolio, and a cluster-based operational model, they are positioned as a leading diagnostic service provider focused on expansion, efficiency, and high-quality healthcare delivery.

Objects of the Chandan Healthcare Limited IPO:

The company proposes to utilize the Net Proceeds from the Offer towards the following objects: i. Setting up a new Flagship Diagnostic Centre in Jankipuram, Lucknow, Uttar Pradesh. ii. Setting up a new Central Reference laboratory at Ayodhya, Uttar Pradesh iii. Setting up a new Central Reference laboratory at Ashiyana, Lucknow, Uttar Pradesh. iv. General corporate purposes. Total number of share issue :- i. Fresh issue is 44,52,064 shares, ii. Offer for sale is 22,99,936 shares.
DRHP of Chandan Healthcare Limited IPO
RHP of Chandan Healthcare Limited IPO

Chandan Healthcare Limited IPO Details:

Open Date: Feb 10 2025
Close Date: Feb 12 2025
Total Shares: 67,52,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 107.36 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 151 - 159 Per Equity Share
Listing At: NSE Emerge
Listing Date: Feb 17 2025

Promoters And Management:

Amar Singh, 66, Promoter, Chairman, and Managing Director of the Company, has been with the company since inception and was re-designated as Managing Director on March 30, 2024. A Bachelor of Medicine and Bachelor of Surgery graduate, he has 20+ years of experience in healthcare. He oversees operations, sets strategic direction, and ensures high-quality service delivery. Asmita Singh, 39, Promoter and Managing Director of the Company, has been with the company since inception and was re-designated as Managing Director on March 30, 2024. Holding a BBA and an MBA, she has 20+ years of marketing experience, driving operational excellence and strategy. She was honored with India’s Most Prominent Women Development Award in 2019. Vinay Lamba, 58, Non-Executive Director of the Company, has been with the company since inception and was re-designated on July 1, 2024. Trained at the Marine Engineering and Research Institute, Calcutta, he holds a Class I Marine Engineer Officer certificate. With 10+ years of experience in technical operations, he collaborates with engineering teams, sets calibration standards, and aligns procurement strategies with organizational goals.

Financials of Chandan Healthcare Limited IPO:

Particulars
FY 2022 (₹ in Lakhs)
FY 2023 (₹ in Lakhs)
FY 2024 (₹ in Lakhs)
Revenue from Operations
11,956.35
13,688.94
17,659.01
EBITDA
215.75
927.41
2,610.28
PAT
(109.25)
358.63
1,635.51

Comparison With Peers:

Company Revenue FY24 (₹ Cr) EBITDA FY24 (₹ Cr) OPM PAT FY24 (₹ Cr) NPM P/E Ratio Market Cap (₹ Cr)
Chandan Healthcare 177 26 14.69% 16.35 9.24% 24x 390
Vijaya Diagnostic 548 221 40.33% 120 21.90% 88.7 11898
Dr. Lal PathLabs 2227 609 27.35% 362 16.26% 56 23342
Metropolis Healthcare 1208 288 23.84% 128 10.60% 63 9588

Recommendation on Chandan Healthcare Limited IPO:

Review and Recommendation of Chandan Healthcare Limited SME IPO is 4/10

Lead Manager of Chandan Healthcare Limited IPO:

  1. Unistone Capital Pvt Ltd

Registrar of Chandan Healthcare Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

Chandan Healthcare Limited Biotech Park, Sector G, Jankipuram, Kursi Road, Lucknow-226021 Phone: +91 8429024430 Email: secretarial@chandan.co.in Website: https://www.chandandiagnostic.com/

Discussion on Chandan Healthcare Limited IPO:

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