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Nidan Laboratories and Healthcare Limited IPO (Nidan Laboratories and Healthcare IPO) Detail

Oct 28, 2021 - Nov 2, 2021

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 Financials

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in Millions)
30-Jun-21 31-Mar-21 31-Mar-20 31-Mar-19
Total Assets 543.30 524.36 452.07 430.57
Total Revenue 78.45 218.53 221.91 209.72
Profit After Tax 10.87 23.02 7.14 2.23

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.

Nidan Laboratories and Healthcare IPO Details

Nidan Laboratories and Healthcare IPO Date Oct 28, 2021 to Nov 2, 2021
Nidan Laboratories and Healthcare IPO Face Value ₹10 per share
Nidan Laboratories and Healthcare IPO Price ₹125 per share
Nidan Laboratories and Healthcare IPO Lot Size 1000 Shares
Issue Size4,000,000 shares of ₹10
(aggregating up to ₹50.00 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Company Promoters

Dr. Nithin Vitthalrao Thorave is the company promoter.

Nidan Laboratories and Healthcare IPO Timeline (Tentative Timetable)

Nidan Laboratories and Healthcare IPO opens on Oct 28, 2021, and closes on Nov 2, 2021. The Nidan Laboratories and Healthcare IPO bid date is from Oct 28, 2021 10.00 A.M. to Nov 2, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.

Event Date
Nidan Laboratories and Healthcare IPO Opening Date Oct 28, 2021
Nidan Laboratories and Healthcare IPO Closing Date Nov 2, 2021
Basis of Allotment Nov 9, 2021
Initiation of Refunds Nov 10, 2021
Credit of Shares to Demat Nov 11, 2021
Nidan Laboratories and Healthcare IPO Listing Date Nov 12, 2021

Nidan Laboratories and Healthcare IPO Lot Size

The Nidan Laboratories and Healthcare IPO lot size is 1000 shares. A retail-individual investor can apply for up to 1 lots (1000 shares or ₹125,000).

Application Lots Shares Amount
Retail (Min) 1 1000 ₹125,000
Retail (Max) 1 1000 ₹125,000

Nidan Laboratories and Healthcare IPO Promoter Holding

Pre Issue Share Holding 99.99%
Post Issue Share Holding 71.22%

Nidan Laboratories and Healthcare IPO Review

For the last three fiscals, Nidan Laboratories top line remained static, but profit margins improved with a sharp rise for FY21. It has expressed similar trends for FY22 Q1, but the sustainability of such margins going forward is a major concern as the segment is highly fragmented and witnessing a cutthroat competition. Due to pandemics, these segments gained fancy and perhaps this company is trying to encase on this boom. Based on financial parameters the asking price is high. Hence there is no harm in ignoring this issue. Read detail review...


Nidan Laboratories and Healthcare IPO Subscription Status (Bidding Detail)

The Nidan Laboratories and Healthcare IPO is subscribed 1.80 times on Nov 2, 2021 5:00:00 PM. The public issue subscribed 3.44 times in the retail category, times in the QIB category, and 0.15 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII0.15
Retail3.44
Total1.80

Nidan Laboratories and Healthcare IPO Prospectus

Nidan Laboratories and Healthcare IPO Rating

317
4.4
Rating:Rated 4.4 stars
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Nidan Laboratories and Healthcare IPO Listing Date

Listing Date Friday, November 12, 2021
BSE Script Code
NSE Symbol NIDAN
Listing In ST Group of Securities
ISIN INE0J6L01013
IPO Price ₹125 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
IPO Price: ₹125.00
Open: ₹123.90
Low: ₹117.75
High: ₹123.90
Last Trade: ₹117.75

Company Contact Information

Nidan Laboratories and Healthcare Limited
Swapnshilpa, Behind Aarti Apartment,
Vartak Road, Virar (West) – 401303,
Palagar, Maharashtra, India
Phone: +91 8975610000
Email: cs@nidanhealthcare.co.in
Website: https://nidanhealthcare.co.in/

Nidan Laboratories and Healthcare IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com

Nidan Laboratories and Healthcare IPO Review

Nidan Laboratories and Healthcare IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 0

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IPO Broker Recommendations

Nidan Laboratories and Healthcare IPO Lead Manager(s)

Nidan Laboratories and Healthcare IPO FAQs

Nidan Laboratories and Healthcare IPO is a SME IPO of 4,000,000 equity shares of the face value of ₹10 aggregating up to ₹50.00 Crores. The issue is priced at ₹125 per share. The minimum order quantity is 1000 Shares.

The IPO opens on Oct 28, 2021, and closes on Nov 2, 2021.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in Nidan Laboratories and Healthcare IPO using UPI as a payment gateway. Zerodha customers can apply in Nidan Laboratories and Healthcare IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Nidan Laboratories and Healthcare IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Nidan Laboratories and Healthcare IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Nidan Laboratories and Healthcare IPO opens on Oct 28, 2021 and closes on Nov 2, 2021.

Nidan Laboratories and Healthcare IPO lot size is 1000 Shares and the minimum order quantity is .

You can apply in Nidan Laboratories and Healthcare IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Nidan Laboratories and Healthcare IPO will be done on Nov 9, 2021, and the allotted shares will be credited to your demat account by Nov 11, 2021. Check the Nidan Laboratories and Healthcare IPO allotment status.

The Nidan Laboratories and Healthcare IPO listing date is on Friday, November 12, 2021.
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Nidan Laboratories and Healthcare IPO Message Board

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60 Comments

28. JagdishBose |   Link |Dec 14, 2021 10:31:20 PM
Why its going down?? Helthcare is doing good na after covid?
27. Praveenvallu |   Link |Dec 9, 2021 12:21:50 AM
HI everyone,

I got 1000 shares in IPO allotment of Nidan Laboratories, from the day it got listed its continuously touching lower circuit and observed an overall loss of around 55%, from past few days the share price has been slightly increased and it is fluctuating.

What should be done should I hold the stock for long term or sell @ loss around 30-40%.''

please suggest me
26. BULLS OF INDIA |   Link |Nov 26, 2021 8:28:44 AM
Top Contributor Top Contributor (200+ Posts)
Now at 600
25. Sahil Budhiraja |   Link |Nov 25, 2021 10:33:36 AM
I dint buy the share but what''s happening?? Lower circuit from the day it got listed. Can sebi do something in this scenario?
25.1. sundeep sharma |   Link |Nov 25, 2021 7:55:44 PM
bechara investor got stuck. nikal bhi nahi pa raha hai. only seller are there no buyer. same was for aashka hospital. really bad.
24. Gulam |   Link |Nov 16, 2021 8:03:56 PM
Hi shall we hold nidan in future
23. Sanvi |   Link |Nov 15, 2021 10:56:21 AM
It will not make you wealthy
23.1. Sanvi |   Link |Nov 15, 2021 11:18:19 AM
One Word- Avoid
22. AswinK |   Link |Nov 15, 2021 10:08:13 AM
Whoever received this IPO hold it. If possible buy the more shares when price is dipped to below 100.
21. husainsaifysaify |   Link |Nov 8, 2021 3:07:55 PM
HTJPS1484R

For Nykaa allotment status
20. Amit Jaipur |   Link |Nov 2, 2021 3:01:09 PM
IPO Mentor IPO Mentor (500+ Posts, 500+ Likes)
It seems to be flop show in HNI
19. Amit Jaipur |   Link |Nov 2, 2021 12:09:50 PM
IPO Mentor IPO Mentor (500+ Posts, 500+ Likes)
seeing the past listings as well as issue size is big & overall HNI is not at all moving. It seems to be skipped.
18. Kjain |   Link |Oct 27, 2021 7:12:40 AM
Dk enterprise ka fund abhi Tak bhi lean me hi h
Allotment bhi nahi aaya Kya karu???
Bob ac me via upi lagaya that
Pls help
18.6. Ashish ipo |   Link |Nov 1, 2021 9:37:16 AM
@lokes ji
Pls where we see mandate in phone pe
18.7. lokes |   Link |Nov 1, 2021 12:06:58 PM
IPO Guru IPO Guru (3400+ Posts, 3700+ Likes)
@ashish: notification will come in phonepe, then when you will open phonepe then pop will also come to accept mandate and it can be seen in profile -> autopay settings
17. ColdBurger |   Link |Nov 1, 2021 12:01:00 AM
IPO Mentor IPO Mentor (800+ Posts, 200+ Likes)
My demat is on cdsl via Zerodha. Is there issie if I apply in SME IPO? Can I sell on listing day from Zerodha?
17.1. lokes |   Link |Nov 1, 2021 3:19:44 PM
IPO Guru IPO Guru (3400+ Posts, 3700+ Likes)
@cold burger: yes we can sell sme ipos via zerodha, no issue....we can sell whenever we want after listing from mobile app or site.
17.2. G J 😃 |   Link |Nov 2, 2021 9:51:24 AM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
You can even apply using UPI method for NSE SME from Zerodha.
Like @lokes said, you can sell once listed, no issues in that.
16. Arca |   Link |Oct 26, 2021 8:09:15 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
High valuation,If it is subscribed more than 20times will apply from four accounts retail. Since nse sme I can apply through upstoxx so no problem.
16.9. G J 😃 |   Link |Oct 31, 2021 12:01:19 AM
IPO Mentor IPO Mentor (900+ Posts, 300+ Likes)
@Arca,
Not because of same reason, but i am also holding CarTrade 2 Lots.
My reason: I was expecting this company to be of new generation and growth will be there with increased number of auto sales (people eventually buy new and sale old vehicles frequently).

But seems like, I was wrong in this one.
I will wait for few more quarters results and confirm the same.
Might add at lower levels also, not sure yet.
16.10. lokes |   Link |Nov 3, 2021 2:08:10 AM
IPO Guru IPO Guru (3400+ Posts, 3700+ Likes)
As informed in above message that it wont subscribe more than 2X in total, same thing happened, it reached even 1.8X due to retailers support only.
IPO size/timings/sector were not promising to apply at all.
15. IPOs User |   Link |Oct 30, 2021 6:44:37 PM
Clear avoid. Another Aashka Hospitals Limited IPO.
14. Vipul M Shah |   Link |Oct 29, 2021 8:02:14 PM
Top Contributor Top Contributor (200+ Posts)
Any subject to rate for Nidan Laboratories ?
13. DarshanJain |   Link |Oct 29, 2021 3:42:10 PM
What is the current GMP ?
13.1. Alok Sahani |   Link |Oct 29, 2021 4:09:18 PM
I think the GMP is around 35
12. mili sharma |   Link |Oct 29, 2021 3:39:30 PM
How much is current GMP ?
11. Blick |   Link |Oct 27, 2021 3:02:58 PM
Do NOT apply.
10. MR. PATEL |   Link |Oct 27, 2021 12:44:20 AM
dr lal pathlabs acquire suburban diagnostics pvt ltd . at valuation of 1150cr e/v 18.5x of fy22 EBITDA OF RS fy2021 57cr
this impact on nidan ipo ? what''s your view?
10.1. AswinK |   Link |Nov 15, 2021 10:10:24 AM
Similar to that might happen. Hold you shares and buy more when price dips to below 100.
9. Small Investor |   Link |Oct 26, 2021 11:37:26 AM
IPO Guru IPO Guru (1600+ Posts, 900+ Likes)
Good Lead Manager and Good Co.
Like Gian Life care
Rs 16cr Repayment its good
Remember last IPO of LM''s BEW
Must Apply for listing Gain
9.1. BhavyaDhiman |   Link |Oct 26, 2021 11:57:33 AM
Good point about the lead manager, didn''t notice. They had been the Lead manager for BEW Engineering too
9.2. Spock 🖖 |   Link |Oct 26, 2021 6:45:04 PM
IPO Mentor IPO Mentor (700+ Posts, 800+ Likes)
few centers they are running with metropolis, though small player in this sector.
valuation little on higher side.
will decide post subscription data.