Nidan Laboratories and Healthcare IPO: is all set to make its debut on 28th Oct 21 with 50Cr offer diagnostic services including radiology, neurology, cardiology, dental as well as pathology services.
Nidan Laboratories and Healthcare IPO – overview
| IPO Dates | 28 Oct-2 Nov 2021 |
| IPO Price | INR 125 per share |
| Fresh issue | – |
| Offer For Sale | Nil |
| Total IPO size | 4000,000 shares (INR 50 crore) |
| Minimum bid (lot size) | 1000 shares |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | BSE Emerge |
Nidan Laboratories and Healthcare IPO – Tentative Dates
| IPO Offer Opening Date | 28 Oct 2021 |
| IPO Closing Date | 02 Nov 2021 |
| Finalization of Basis of Allotment | 09 Nov 2021 |
| Initiation of refunds | 10 Nov 2021 |
| Transfer of shares to demat accounts | 11 Nov 2021 |
| IPO Listing Date | 12 Nov 2021 |
| Opening Price on BSE SME | Coming soon |
| Closing Price on BSE SME | Coming soon |
Company Overview
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.
Industry Overview
The market share is categorized as: unorganized (47%), hospital-based lab (37%) while the remaining (~16%) is with the organized players. Doctor referrals constitute a large part of this business. This includes commission payments to doctors in lieu of referring to a diagnostic lab. Further, currently, the illness diagnosis segment is more prevalent than wellness segment in India. Services: Pathology testing or invitro diagnosis involves the collection of samples in the form of blood, urine, stool, etc., and analyzing them using laboratory equipment and technology to arrive at useful clinical information that assists in treatment of diseases. It includes biochemistry, immunology, hematology, urine analysis, molecular diagnosis, and microbiology.
Imaging diagnosis or radiology involves imaging procedures such as X-rays and ultrasounds that help determine anatomical or physiological changes inside a patient’s body, thus assisting doctors in diagnosing. It includes more complex tests such as CT scans, MRIs, and highly specialized PET-CT scans. Wellness and preventive diagnostic services aim at identifying pre-existing diseases or the likely risk of diseases before the onset of symptoms.
Competitive Strengths:
- Trusted, high quality, and reliable brand name.
- Customer-centric approach & services
- 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
Objectives of the issue
- 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.
Company Financials
| Particulars | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 |
| Total Assets | 524.36 | 452.07 | 430.57 |
| Total Revenue | 218.53 | 221.91 | 209.72 |
| Profit After Tax | 23.02 | 7.14 | 2.23 |
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/
Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/
Lead Manager(s)
- First Overseas Capital Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
