Clinitech Laboratory’s IPO is set to open for subscription on July 25, 2024, offering a fresh issue of 6.02 lakh shares at a fixed price of ₹96 per share, totaling Rs 5.78 crores. This highly anticipated public offering will be available for investors until July 29, 2024, with the allotment expected to be finalized on July 30, 2024. Shares will debut on the BSE SME platform with a tentative listing date of August 1, 2024.
The IPO is designed to attract both retail investors and high net-worth individuals (HNIs), with a minimum lot size of 1,200 shares. Retail investors can participate with a minimum investment of ₹115,200, while HNIs are required to invest in at least two lots, amounting to ₹230,400.
Key Players and Financials
Inventure Merchant Banker Services Pvt Ltd is leading the charge as the book-running lead manager, and Bigshare Services Pvt Ltd is the appointed registrar. Svcm Securities will act as the market maker for Clinitech Laboratory’s IPO, ensuring liquidity and smooth trading of shares post-listing.
Clinitech Laboratory, founded in 1990, has established itself as a reliable provider of diagnostic and health testing services. The company operates eight diagnostic centers across Thane and Navi Mumbai, conducting over 300,000 tests annually in NABL-accredited laboratories. As of May 31, 2024, the company employed 85 individuals.
Financial Performance
Clinitech Laboratory’s revenue for the financial year ending March 31, 2024, saw a slight increase of 1.19%, reaching ₹643.92 lakhs. However, the profit after tax (PAT) dropped by 39.46%, totaling ₹37.12 lakhs. Despite the decline in PAT, the company’s net worth has grown significantly to ₹354.80 lakhs, reflecting a strong balance sheet and potential for future growth.
Investment Highlights
The fixed price issue IPO aims to raise funds primarily for the expansion of diagnostic centers and general corporate purposes. Investors should note that the pre-issue shareholding stands at 83.63%, which will decrease to 61.56% post-issue, indicating significant promoter commitment to the company’s growth.
Clinitech Laboratory’s IPO Timeline and Details
- IPO Open Date: July 25, 2024
- IPO Close Date: July 29, 2024
- Basis of Allotment: July 30, 2024
- Initiation of Refunds: July 31, 2024
- Credit of Shares to Demat: July 31, 2024
- Listing Date: August 1, 2024
- Cut-off Time for UPI Mandate Confirmation: 5 PM on July 29, 2024
Certainly! Here is the IPO timeline and details in table form:
| Event | Date |
|---|---|
| IPO Open Date | July 25, 2024 (Thursday) |
| IPO Close Date | July 29, 2024 (Monday) |
| Basis of Allotment | July 30, 2024 (Tuesday) |
| Initiation of Refunds | July 31, 2024 (Wednesday) |
| Credit of Shares to Demat | July 31, 2024 (Wednesday) |
| Listing Date | August 1, 2024 (Thursday) |
| Cut-off Time for UPI Mandate Confirmation | 5 PM on July 29, 2024 |
Promoters and Shareholding
The company’s promoters, Jagdish Umakant Nayak, Jyoti Jagdish Nayak, and Ashutosh Jagdish Nayak, are set to retain a majority share post-IPO, ensuring continued strategic oversight and operational stability.
Market Outlook
Clinitech Laboratory operates in a competitive and fragmented market segment. While the IPO pricing appears steep based on the company’s recent financial performance, the expansion of diagnostic centers and the general corporate strategy may provide long-term benefits to shareholders.
For further information on Clinitech Laboratory’s IPO, investors are advised to consult the detailed Red Herring Prospectus (RHP).
Contact Information
- Clinitech Laboratory Limited: AL-1/545, Sector 16, Airoli, Navi Mumbai, Thane – 400708. Phone: +91 22 27792281. Email: ipo@clinitechlab.com. Website: clinitechlab.com
- Registrar: Bigshare Services Pvt Ltd. Phone: +91-22-6263 8200. Email: ipo@bigshareonline.com. Website: bigshareonline.com
Investors interested in Clinitech Laboratory’s IPO should act promptly within the subscription window and consider both the potential opportunities and risks associated with this offering.
Disclaimer:
The information provided above about Clinitech Laboratory’s IPO is intended for general informational purposes only. While we strive to ensure accuracy, details may change or be updated. We strongly advise you to verify all information from official sources or contact authorized representatives for the most accurate and up-to-date information. The responsibility of making informed investment decisions lies solely with the reader.