Cian Healthcare Limited IPO

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(i) The Company was originally incorporated as “Cian Healthcare Private Limited” as a private limited Company on  January 17, 2003.

(ii) The Company is a WHO-GMP & ISO -9001:2015 certified transnational manufacturing Company with a wide range of Pharmaceutical, Nutraceutical, Ayurvedic, Cosmeceuticals, Sexual Wellness, and Food supplement products. The company complies with the standard manufacturing practices as laid down by the World Health Organization and is also certified by the Food and Drug Control Administration

(iii) The Company develops, manufactures and commercializes pharmaceutical products including sales, marketing, quality assurance, distribution, compliance and regulatory aspects under 12 therapeutic segments :

Orthopaedics, Gynaecology, Paediatrics, Cardiac, Diabetic, Dermatology, Pain Management, Antibiotics, Neuro, Critical Care, Gastro-Intestinal and Nutraceuticals]

Cian has developed more than 1,000 formulations and 2000 brands for the domestic market under above 12 divisions.

(iv) The Company also manufactures innovative products comprising of Tablets, Capsules, Liquid Orals, Ointments, Creams, Lotions, Gels, and Sachet. They have a special license for manufacturing veterinary products for the client like SAVAvet and Venky’s.

They had entered the International market in the year 2013-14 and are on regular basis exporting the products to various countries.

(v)  They own and operate only one manufacturing facility situated at Roorkee, Uttarakhand. All of their products are manufactured at this facility only.

Cian Healthcare Limited IPO Stock Quote & Charts

16.20

+4.52%

  • Open: 14.75
  • High - Low: 16.20 - 14.75
  • Previous Close: 15.50
  • Total Traded Volume: 8000
  • Updated On: 19-Nov-2019

Objects of the Cian Healthcare Limited IPO:

1. Upgradation of existing plant i.e. Unit 1 situated at Roorkee, Uttarakhand, India. 2. Margin Money for Setting up of manufacturing facility i.e. Unit 2 situated at Roorkee, Uttarakhand, India. 3. Enhancement of our Company’s brand through advertising and other brand-building activities. 4. Long term working capital requirements. 5. Acquisitions and other strategic initiatives.

Cian Healthcare Limited IPO Details:

Open Date: May 02 2019
Close Date: May 15 2019
Total Shares: 6216000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Buliding
Issue Size: 40 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 61-65 Per Equity Share
Listing At: BSE SME
Listing Date: May 17 2019

Promoters And Management:

a) Suraj Zanwar, aged 44 years is the Promoter and Managing Director of our Company. He has been the Promoter and Director of our Company since Incorporation and has been designated as Managing Director w.e.f. October 06, 2018. He has completed his Diploma in Pharmacy from Maharashtra State Pharmacy Council. He has experience of more than 18 (Eighteen) years of in the industry in which the Company operates. b) Pankaj Zanwar, aged 44 years is the Director of our Company. He has been designated as NonExecutive Director w.e.f. January 14, 2018. He has completed his Bachelors in Engineering from Shivaji University. He has an experience of more than 16 (sixteen) years in Information Technology Industry. c) Riyaz Khan, aged 34 years is the Whole Time Director of our Company. He was appointed as Executive Director of our Company on July 29, 2016, and re-designated as Whole-Time Director of our Company w.e.f. January 14, 2019. He is responsible for product packaging, graphic, web designing projects, etc. and also looks after the launching of new brands and handles the plant operations.

Financials of Cian Healthcare Limited IPO:

Particulars(Lakh) 2016 2017 2018 6MFY19
Balance Sheet Item
Share Capital 140 140 140 1680
FV 10 10 10 10
Net Worth 1098.00 1329.00 1716.00 2226.00
Book Value 78.43 94.93 122.57 13.25
Long-Term Debt 2035.00 2399.00 2459.00 2476.00
Short-Term Debt 1070.00 1567.00 2304.00 2049.00
D/E 2.83 2.98 2.78 2.03
Receivables days 94.00 96.00 156.00 263.00
P/L Items
Revenue 4715.00 5185.00 5959.00 3301.00
EBITDA 789 1001 1276 853
EBITDA Margins 16.7% 19.3% 21.4% 25.8%
Profit 154 231 387 398
PAT Margins 3.3% 4.5% 6.5% 12.1%
EPS 0.66 0.99 1.66 1.71

Comparison With Peers:

Particulars(Cr) CIAN Deccan Zota
Balance Sheet Item
Share Capital 1.4 13.5 17.54
FV 10 10 10
Net Worth 10.98 36.48 69.78
Book Value 78.00 27.02 39.78
Long-Term Debt 20.35 8.41 0.00
Short-Term Debt 10.70 0.00 0.00
D/E 2.83 0.23 0.00
P/L Items
Revenue 59.59 39.76 79.37
Revenue Growth in 3 years 12.42% 56.71% 11.10%
EBITDA 12.76 15.45 12.9
EBITDA Growth in 3 years 27.17% 55.86% 13.23%
EBITDA Margins 21.4% 38.9% 16.3%
PAT 3.87 12.68 7.27
PAT Growth in 3 years 58.52% 89.26% 18.35%
PAT Margins 6.5% 31.9% 9.2%
EPS 1.66 9.70 4.23
Key Ratios and Valuation
RONW 35.2% 34.8% 10.4%
P/E 39 10.03 65.00
Mcap 151.45 Cr 158 Cr 488 Cr
Mcap/Sales 2.54 3.97 6.15
Note: Data of FY17-18 is taken for peer comparison.

Recommendation on Cian Healthcare Limited IPO:

Review and Recommendation of Cian Healthcare Limited IPO from IZ Team are 5/10. [ The company has shown excellent growth in Revenue and EBITDA margins over the last 3 years. The Issue is priced at P/E of 21 based on Annualized earning of FY19.  The D/E post issue will become less than 1. The Issue size is large so chances of good listing are doubtful unless LM provides support on the listing. ]

Lead Manager of Cian Healthcare Limited IPO:

  1. Fedex Securities Limited

Registrar of Cian Healthcare Limited IPO:

  1. Bigshare Services Private Limited

Bid Details of Cian Healthcare Limited IPO as on
15 May 2019 | 06:00:00 PM

Category No.of shares offered No. of shares bid
2,950,000 5,642,000
2,950,000 1,752,000
316,000 316,000
6,216,000 7,710,000
QIBs Yes
QIBs+HNIs Subscription 1.91X
Retail Subscription 0.59X
Total Subscription 1.25X

Discussion on Cian Healthcare Limited IPO: