Chandan Healthcare IPO Day 3; check subscription status, GMP, listing date

Chandan Healthcare IPO Day 3: Chandan Healthcare, a diagnostic services provider company, is set to conclude its initial public offering (IPO) for public subscription today, Wednesday, February 12, 2025. The Rs 107 crore NSE SME offering has received a decent response from investors so far. Data available on the National Stock Exchange (NSE) suggests that the Chandan Healthcare IPO has been oversubscribed by 1.12 times as of around 12:08 PM on Wednesday, February 12, 2025.

 

Chandan Healthcare IPO comprises a fresh issue of 44,52,064 equity shares and an offer for sale of 22,99,936 equity shares. The public offering is available at a price band of Rs 151-159 per share, with a lot size of 800 shares. Investors can bid for a minimum of 800 shares and in multiples thereof, requiring a minimum investment of Rs 1,27,200.

 

Meanwhile, the unlisted shares of Chandan Healthcare were traded nearly flat in the grey market as the public offering concludes today. According to sources tracking grey market activities, Chandan Healthcare shares were trading at around Rs 162 per share. This reflects a grey market premium (GMP) of merely Rs 3 per share, or 1.89 per cent, over the upper end of the issue price of Rs 159.  READ: Hexaware Technologies IPO Open Today

 

Once the subscription window concludes, the basis of allotment for Chandan Healthcare IPO shares is likely to be finalized on Thursday, February 13, 2025. The successful allottees will receive the company's shares in their demat account by Friday, February 14, 2025.

 

Chandan Healthcare shares are slated to list on the NSE SME, tentatively on Monday, February 17, 2025.

 

Kfin Technologies serves as the registrar, while Unistone Capital acts as the sole book-running lead manager for the offering.

 

Chandan Healthcare proposes to utilise the proceeds from the public offering for setting up a new flagship diagnostic center in Jankipuram, Lucknow, Uttar Pradesh, and a new central reference laboratory in both Ayodhya and Ashiyana, Lucknow, Uttar Pradesh. Additionally, the funds will be used for general corporate purposes.  READ: Ajax Engineering IPO Day 3 Subscription

 

Chandan Healthcare operates a diagnostic network in North India with pathology and radiology testing services. As of December 31, 2024, the company has one flagship laboratory, nine central laboratories, twenty-seven satellite centers, and more than three hundred collection centers. These are located in Jaipur and across Uttar Pradesh and Uttarakhand, with facilities in more than 23 cities and towns across Uttar Pradesh and more than 19 cities and towns in Uttarakhand.