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Chandan Healthcare IPO
Price Band
₹151.0–159.0
Issue Size
₹107.27 Cr
Lot Size
800 shares
Min Investment
₹127,200
GMP
—
Issue Price
₹159.0
Chandan Healthcare IPO AI Summary
- Chandan Healthcare IPO is listed on NSE SME.
- Price band: ₹151.0–₹159.0 per share, lot size 800 shares (min. investment ₹127,200).
- Subscription window: 10 Feb–12 Feb 2025, listing on 17 Feb 2025.
Chandan Healthcare Limited is a diagnostic services provider with a strong presence in North India. The company has shown a consistent growth in total income and profit over recent periods, although the latest income figure is not directly comparable to previous full-year results. The IPO aims to raise funds for expanding its operations and enhancing its service capabilities.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Chandan Healthcare IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 12 Feb 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Chandan Healthcare IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in September 2003, Chandan Healthcare Limited runs diagnostic centres in North India with pathology and radiology testing services. As of December 31, 2024, the company operates one flagship laboratory, seven central laboratories, and twenty-six satellite centres, with over three hundred collection centres in more than 23 cities across Uttar Pradesh and over 19 in Uttarakhand. As of December 31, 2024, the company offers 1,496 tests across different specialities. The test menu includes 481 routine pathology tests in basic biochemistry and haematology, plus 1,015 specialised tests like immunohistopathology and molecular pathology, and 545 radiology tests, including x-rays, ultrasonography, CT, MRI, and specialised CT scans. The radiology facilities have eleven CT scanners and four MRI machines. As of December 31, 2024, the company employed 15 radiologists, 23 pathologists, and over 161 other qualified professionals. Products and services: The company primarily provides diagnostic services and ad hoc sales of consumables like X-ray films and reagents. Its subsidiary, Chandan Pharmacy Limited, operates medical stores offering a range of pharmaceutical products. Routine Pathology Tests Specialized Pathology Tests Radiology Tests Preventive and Wellness Services Home Collection Service Competitive Strength: Strong geographic presence in Uttarakhand, including 39 tier-two cities and towns. Integrated diagnostics provider offering pathology, radiology testing, and medical consultations. Track record of profitability and consistent financial performance. Dedicated management team with significant industry experience.
Company Financials (₹ Cr)
As of 2024-12-31
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 170.06 | 128.86 | 97.83 | 81.23 |
| Total Income | 167.99 | 177.96 | 137.03 | 119.92 |
| Profit After Tax | 17.42 | 16.36 | 3.59 | -1.09 |
| NET Worth | 41.09 | 27.30 | 23.93 | |
| Reserves and Surplus | 34.31 | 21.16 | 7.37 | 4.00 |
| Total Borrowing | 51.92 | 42.01 | 21.36 | 16.58 |
Key Ratios
EPS
₹8.18
NAV
₹20.58
ROE
47.50%
ROCE
35.20%
RoNW
39.54%
P/B Value
7.73
P/E Ratio
19.44
Market Cap
₹388.79 Cr
PAT Margin
9.26%
Debt/Equity
1.02
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Metropolis Healthcare Ltd | 214.01 | 12.33% | 72.18 | 24.95 | 24.87 |
| Dr. Lal Pathlabs Ltd | 221.61 | 20.61% | 62.34 | 46.25 | 46.18 |
| Vijaya Diagnostic Centre Limited | 64.21 | 19.91% | 87.75 | 11.62 | 11.59 |
| Chandan Healthcare Limited This IPO | 20.58 | 39.54% | — | 8.14 | 8.14 |
Promoters
Amaranita Holdings (India) Pvt.Ltd., Amar Singh, Asmita Singh, Alok Singh, Shaleen Solanki, Vijay Singh and Vinay Lamba
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Setting up of a new Flagship diagnostic centre in Jankipuram, Lucknow, Uttar Pradesh. 32.82 2 Setting up of a new Central Reference laboratory at Ayodhya, Uttar Pradesh. 7.10 3 Setting up of a new Central Reference laboratory at Ashiyana, Lucknow, Uttar Pradesh. 7.10 4 General Corporate Purposes 16.72 5 Issue Expenses 10.14 Total 73.89
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹119.92 Cr in the period ending 31 Mar 2022, rising to ₹137.03 Cr by 31 Mar 2023, then increasing to ₹177.96 Cr in the period ending 31 Mar 2024. However, in the most recent period ending 31 Dec 2024, total income decreased to ₹167.99 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was a loss of ₹1.09 Cr in the period ending 31 Mar 2022, improving to ₹3.59 Cr by 31 Mar 2023. It further increased to ₹16.36 Cr in the period ending 31 Mar 2024, and rose to ₹17.42 Cr in the most recent period ending 31 Dec 2024.
Valuation
Chandan Healthcare's implied P/E at the issue price of ₹159.0 is approximately 19.44, compared to peers trading at P/E ratios ranging from 62.34 to 87.75.
Grey Market Premium, Explained
The Grey Market Premium (GMP) refers to the unofficial trading of shares before they are listed on the stock exchange. It indicates the expected listing price of an IPO based on demand and supply dynamics. A positive GMP suggests that investors anticipate a higher listing price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's financial health, growth prospects, and market positioning. It's important to consider the overall market conditions and personal investment strategy.
Who May Want to Wait
Investors who prefer stable, low-risk investments may want to avoid IPOs like this, as they can be subject to significant price fluctuations and uncertainties in the early stages post-listing.
IPO Timeline, Explained
The timeline for this IPO is as follows: The issue opens on February 10, 2025, and closes on February 12, 2025. Allotment of shares will occur on February 13, 2025, with the listing date set for February 17, 2025.
Listing Gains — The Risk
Listing gains are the profits made by investors when they sell shares on the listing day at a higher price than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock. Investors should be aware that the stock price can also decrease after listing.
This evaluation is generated from Chandan Healthcare's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Chandan Healthcare IPO?
The price band of Chandan Healthcare IPO is ₹151.0–₹159.0 per share.
When does Chandan Healthcare IPO open and close?
Chandan Healthcare IPO opens on 10 February 2025 and closes on 12 February 2025.
When does Chandan Healthcare IPO list on the stock exchange?
Chandan Healthcare IPO listed on 17 February 2025 at ₹159.0.
What is the lot size for Chandan Healthcare IPO?
The lot size for Chandan Healthcare IPO is 800 shares, requiring a minimum investment of ₹127,200.
What is the lot size for the Chandan Healthcare IPO?
The lot size for the Chandan Healthcare IPO is 800 shares.
What is the minimum investment required?
The minimum investment required is ₹127,200.
What is the price band for the IPO?
The price band for the IPO is ₹151.0 to ₹159.0.
When is the listing date for the IPO?
The listing date for the IPO is February 17, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
10 Feb 2025
Close
12 Feb 2025
Allotment
13 Feb 2025
Listing
17 Feb 2025
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