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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 Promoters:

Dr. Nithin Vitthalrao Thorave is the company promoter.

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

IPO Opening Date Oct 28, 2021
IPO Closing Date Nov 2, 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 Size4,000,000 Eq Shares of ₹10
(aggregating up to ₹50.00 Cr)

Nidan Laboratories and Healthcare IPO Tentative Timetable

The Nidan Laboratories and Healthcare IPO open date is Oct 28, 2021, and the close date is Nov 2, 2021. The issue may list on Nov 12, 2021.

IPO Open Date Oct 28, 2021
IPO Close Date Nov 2, 2021
Basis of Allotment Date Nov 9, 2021
Initiation of Refunds Nov 10, 2021
Credit of Shares to Demat Account Nov 11, 2021
IPO Listing Date Nov 12, 2021

Nidan Laboratories and Healthcare IPO Lot Size

The Nidan Laboratories and Healthcare IPO market 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 (Cut-off)
Minimum 1 1000 ₹125,000
Maximum 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 11/2/2021 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 equity share
Face Value ₹10 per equity 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 Reviews / Ratings

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 equity 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 1000 Shares.

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.

Nidan Laboratories and Healthcare IPO Message Board

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