Mumbai (Maharashtra) [India], October 26: Nidan Laboratories and Healthcare Limited engaged into offering diagnostic services including radiology, neurology, cardiology, dental as well as pathology services are entering the capital market with a Fixed Price Issue IPO of Face Value ₹10 per equity share at a Price of ₹125 per equity share with Market Lot of 1000 Shares.

IPO of 4,000,000 Equity Shares of ₹10(aggregating up to ₹50.00 Cr) to be listed on SME platform of National Stock Exchange (NSE).IPO will Open on October 28, 2021, and close on Nov 2, 2021. The Lead Manager to the issue is First Overseas Capital Ltd, and Registrar is Bigshare Services Pvt. Ltd.

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 specialities 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 provides value-added services to its customers, such as a home collection of specimens, house calls, and various delivery or access modes for test reports.

According to Dr. Nithin Vitthalrao Thorave, Promoter, 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 centres operating under the brand name of “Nidan Healthcare”, 16 centres are under the Franchisee model where 1 centre acts as a fully operated diagnostic centre, and 15 centres act solely as standalone collection centres. 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 centres by Express Healthcare.

Competitive Strengths Include 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 and Strong and experienced leadership with a dedicated management team.

Healthcare has become one of India’s largest sectors, both in terms of revenue and employment. According to a recent survey, in 2016-2022, the market is expected to record a CAGR of 17.69 per cent. With these positive factors, Health care companies are likely to benefit substantially.

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