Nidan Laboratories and Healthcare Limited IPO Detail
Incorporated in the year 2000, Nidan Laboratories and Healthcare Limited offer diagnostic services including radiology, neurology, cardiology, dental as well as pathology services. As of March 31, 2021, the company offered approximately 740 routine and 3000 specialized pathology tests and approximately 220 basic and 320 advanced radiology tests that cover a range of specialties and disciplines. The company provides pathology tests ranging from basic biochemistry and clinical pathology to cytogenetic and high-end molecular diagnostic tests, and radiology tests ranging from basic echocardiograms, X-Rays, and ultrasounds to advanced radiology tests including computerized tomography (CT) scans, magnetic resonance imaging (MRI) scans. The company also offers a broad spectrum of customized health and wellness packages to its customers and offers value-added services to its customers such as a home collection of specimens, house calls, and various delivery or access modes for test reports.
Nidan has come out with a unique appointment booking mobile application under the name of "NIDAN HEALTHCARE" which is supported by self-indigenous software called "Nidan Operation Management (NOM)." This unique app enables patients to book appointments for any test, from anywhere, at any time. The company has also tied up with pathology partners like Metropolis Laboratories Limited for its services.
Out of the 35 centers operating under the brand name of "Nidan Healthcare", 16 centers are under the Franchisee model where 1 center acts as a fully operated diagnostic center and 15 centers act solely as standalone collection centers. As of June 30, 2021, the company had a total of 213 employees. The company has got recognitions like the Best Diagnostic Chain of India Award 2019, in the Category of 20+ diagnostic centers by Express Healthcare.
Competitive Strengths:
- Trusted, high quality, and reliable brand name.
- Customer-centric approach & services
- Location benefits
- Wide range of diagnostic services at affordable prices
- Robust IT technical capabilities with strong IT infrastructure
- Strong and experienced leadership with a dedicated management team
Company Promoters
Dr. Nithin Vitthalrao ThoraveIPO Details
| IPO Opening Date | Oct 28, 2021 |
| IPO Closing Date | Nov 02, 2021 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹125 per equity share |
| Market Lot | 1000 Shares |
| Min Order Quantity | 1000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹50.00 Cr |
| Fresh Issue | - |
| Offer for Sale | - |
| Retail Portion | - |
IPO Tentative Timetable
The Nidan Laboratories and Healthcare Limited IPO open date is Oct 28, 2021, and the close date is Nov 02, 2021. The issue may list on Nov 12, 2021.
| IPO Open Date | Oct 28, 2021 |
| IPO Close Date | Nov 02, 2021 |
| Basis of Allotment Date | Nov 09, 2021 |
| Initiation of Refunds | Nov 10, 2021 |
| Credit of Shares to Demat Account | Nov 11, 2021 |
| IPO Listing Date | Nov 12, 2021 |
IPO Lot Size
The Nidan Laboratories and Healthcare Limited IPO market lot size is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or ₹125000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1000 | ₹125000 |
| Maximum | 1 | 1000 | ₹125000 |
IPO Promoter Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding | 71.22% |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 52.43 | 21.85 | 2.3 |
| 31-Mar-20 | 45.2 | 22.2 | 0.71 |
| 31-Mar-19 | 43.05 | 20.98 | 0.22 |
Objects of the Issue:
The net proceed from the IPO will be utilized towards the following purposes;
- Repayment of loans – Rs.16 crores.
- Additional Working Capital – Rs.26 crores.
- General Corporate Expenses – Rs.4.4 crores.
- To meet the expenses of the Issue – Rs.3.6 crores.
