Clinitech Laboratory is scheduled to hit the market on July 25, 2024 and close on July 29, 2024. Clinitech Laboratory plans to raise around ₹5.78 Cr through an IPO with a sale of up to 602,400 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
Clinitech Laboratory Limited, founded in 1990, specializes in diagnostic and health testing services. The company offers over 150 tests across various categories, including Biochemical, Immunology, Hematology, Molecular Biology, Serology, Microbiology, and Histopathology Tests. With eight diagnostic centres located in Thane and Navi Mumbai, Clinitech conducts more than 300,000 tests annually in its NABL-accredited laboratories, which are equipped with modern technology and high-quality equipment.
The medical testing facilities in Airoli, Navi Mumbai, have received accreditation from NABL according to ISO 15189:2012 standards. As of May 31, 2024, Clinitech employs 85 individuals across different departments, ensuring the delivery of reliable and efficient health testing services.
Clinitech Laboratory IPO Details
Clinitech Laboratory IPO opens on July 25, 2024, and closes on July 29, 2024. The Listing date for Clinitech Laboratory IPO is on August 01, 2024. The price band for IPO is ₹96 per share and lot size of 1200 Shares.
| IPO Date | July 25, 2024 to July 29, 2024 |
| Listing Date | August 01, 2024 |
| Price | ₹96 per share |
| Lot Size | 1200 Shares |
| Issue Size | ₹5.78 Cr |
| Face Value | ₹10 per share |
Clinitech Laboratory IPO Tentative Timetable
Clinitech Laboratory opening date is July 25, 2024 and close date is July 29, 2024. The IPO allotment date is July 30, 2024. The refund initiation of IPO is on July 31, 2024. The credit of shares in demat account is on July 31, 2024. The listing date is on August 01, 2024.
| Event | Date |
|---|---|
| IPO Opening | July 25, 2024 |
| IPO Closing | July 29, 2024 |
| IPO Allotment Date | July 30, 2024 |
| Refund Initiation | July 31, 2024 |
| Shares Credit to Demat | July 31, 2024 |
| Lisiting Date | August 01, 2024 |
Clinitech Laboratory IPO Lot Size
Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹115,200).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1200 | ₹115,200 |
| Retail(Maximum) | 1 | 1200 | ₹115,200 |
| HNI (Minimum) | 2 | 2400 | ₹230,400 |
Clinitech Laboratory IPO Promoter Holding
| Pre Issue Share Holding | 83.63% |
| Post Issue Share Holding | 61.56% |
Clinitech Laboratory IPO Review
Clinitech Laboratory Ltd. is launching its maiden IPO, offering 602,400 equity shares at a fixed price of Rs. 96 per share, aiming to raise Rs. 5.78 crore. The IPO opens on July 25, 2024, and closes on July 29, 2024. The minimum application is for 1,200 shares. Post-allotment, shares will be listed on the BSE SME. The issue represents 26.39% of the post-IPO paid-up capital. The company will use the net proceeds of Rs. 4.99 crore for expanding diagnostic centers and Rs. 0.41 crore for general corporate purposes. Inventure Merchant Banker Services Pvt. Ltd. is the sole lead manager, and Bigshare Services Pvt. Ltd. is the registrar. SVCM Securities Pvt. Ltd. will act as the market maker. The company has a history of issuing equity shares at par value, with further equity shares issued at Rs. 38 in December 2023. The company also issued bonus shares in the ratios of 49 for 1 (March 2018), 1 for 3 (March 2019), and 5 for 4 (March 2022). Post-IPO, the company's paid-up equity capital will increase from Rs. 1.68 crore to Rs. 2.28 crore, aiming for a market cap of Rs. 21.91 crore.
Financially, CLL has shown almost static revenue over the past three fiscal years, with total revenue/net profit figures of Rs. 6.46 crore/Rs. 0.51 crore (FY22), Rs. 6.36 crore/Rs. 0.61 crore (FY23), and Rs. 6.44 crore/Rs. 0.37 crore (FY24). Despite the revenue consistency, the company's bottom line fluctuated significantly, showing a sharp decline in FY24. The company's average EPS for the past three years is Rs. 3.12, with an average RoNW of 18.44%. The issue is priced at a P/BV of 4.55 based on a NAV of Rs. 21.12 as of March 31, 2024, and a P/BV of 2.35 based on a post-IPO NAV of Rs. 40.88 per share. The IPO's asking price corresponds to a P/E of 58.90 based on FY24 earnings, indicating that the issue is highly overpriced. The company has not declared any dividends for the reported periods and plans to adopt a prudent dividend policy based on financial performance and future prospects.
In terms of comparison, CLL has listed Dr. Lal Path Labs, Thyrocare, and Krsnaa Diagnostics as peers, which are trading at P/E ratios of 69.8, 47.5, and 35.9, respectively, as of July 19, 2024. However, these companies are not directly comparable to CLL on an apple-to-apple basis. Inventure Merchant Banker Services Pvt. Ltd., the issue's lead manager, has managed 10 previous listings, with mixed performance outcomes. Given the company's static revenue, fluctuating profits, and high IPO pricing, the investment in this IPO appears highly risky. There is no harm in skipping this offering considering the high-risk factors involved.
Clinitech Laboratory IPO Subscription Status (Bidding Details)
Table not foundClinitech Laboratory IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Clinitech Laboratory IPO FAQs
What is Clinitech Laboratory IPO?
Clinitech Laboratory is issuing 602,400 equity shares with a face value of ₹10 each, totaling up to ₹5.78 Cr. The shares are being offered at a price of ₹96 each, with a minimum order quantity of 1200 shares.
Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Clinitech Laboratory IPO will open?
Clinitech Laboratory will open on July 25, 2024 for QIB, NII, and Retail Investors.
When Clinitech Laboratory IPO will end?
Clinitech Laboratory will end on July 29, 2024.
What is Clinitech Laboratory IPO Size?
Clinitech Laboratory IPO size is ₹5.78 Cr.
What is Clinitech Laboratory IPO Price Band?
Clinitech Laboratory price band is ₹96 per share.
What is the Clinitech Laboratory IPO Allotment Date?
Clinitech Laboratory allotment date is July 30, 2024.
What is the Clinitech Laboratory IPO Listing Date?
Clinitech Laboratory listing date is August 01, 2024. The IPO is to be listed on BSE and NSE.
How to Clinitech Laboratory IPO through Zerodha?
To apply for the IPO “Clinitech Laboratory” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Clinitech Laboratory IPO through Upstox?
To apply for the IPO “Clinitech Laboratory” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Clinitech Laboratory IPO Allotment Status?
For Clinitech Laboratory IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Clinitech Laboratory IPO GMP?
You can check out here: Clinitech Laboratory IPO GMP