CM – Nidan Laboratories and Healthcare Ltd IPO begins October 28th


IPO of 4,000,000 shares of Rs10 (collectively up to Rs 50.00 crore) for listing on the National Stock Exchange’s SME platform.

Published: October 26, 2021 11:27 AM |

Last updated: October 26, 2021 11:27 am

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The IPO will open on October 28, 2021 and will close on November 2, 2021. (Photo file | Express)

MUMABI: Nidan Laboratories and Healthcare Limited, which provide diagnostic services such as radiology, neurology, cardiology, dentistry and pathology, are entering the capital market with a fixed price IPO of face value Rs10 per share at a price of Rs125 Share per share with a market lot of 1000 shares.

IPO of 4,000,000 shares of Rs10 (together up to Rs 50.00 crore) for listing on the SME platform of the National Stock Exchange (NSE). The IPO will open on October 28, 2021 and close on November 2, 2021. The lead manager of the issue is First Overseas Capital Ltd and the registrar is Bigshare Services Pvt. GmbH.

As of March 31, 2021, the company offered approximately 740 routine and 3000 specialized pathology tests, as well as approximately 220 basic and 320 advanced radiology tests, covering a range of specialties and disciplines. The company offers pathology tests ranging from basic biochemistry and clinical pathology to cytogenetic and high-end molecular diagnostic tests and radiology tests ranging from simple echocardiograms, X-rays and ultrasound to advanced radiology tests including computed tomography (CT) scans, magnetic resonance Imaging (MRI) scans. In addition, the company offers its customers a wide range of tailor-made health and wellness packages and offers its customers value-added services such as house pick-up, home visits and various delivery or access modes for test reports.

According to Dr. Nithin Vitthalrao Thorave, Promoter, Nidan has launched a unique mobile appointment booking application called « NIDAN HEALTHCARE », powered by proprietary software called « Nidan Operation Management (NOM) ». This unique app enables patients to book appointments for any test from anywhere, anytime. The company has also partnered with pathology partners such as Metropolis Laboratories Limited for its services.

Of the 35 centers operated under the Nidan Healthcare brand, 16 centers are franchisee, with 1 center being fully operated Diagnosis center and 15 centers function exclusively as independent collection centers. As of June 30, 2021, the company employed a total of 213 people. The company has received awards such as the Best Diagnostic Chain of India Award 2019 in the category of 20 Diagnostic Centers from Express Healthcare.

Competitive strengths include trustworthy, high quality and reliable brand name, customer-oriented approach, & services, location advantages, wide range of Diagnostic services at affordable prices, robust technical IT functions with strong IT infrastructure and strong and experienced leadership with a dedicated management team.

Healthcare has become one of the largest sectors in India in terms of sales and employment. According to a recent survey, the market is expected to see a CAGR of 17.69 percent in 2016-2022. Healthcare companies should benefit significantly from these positive factors.

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