Clinitech Laboratory IPO opens today: Check subscription, price, date, size

Clinitech Laboratory IPO opens today: The three-day subscription window of the initial public offering (IPO) of Clinitech Laboratory opened for public subscription today, July 25, 2024. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 5.78 crore from the Clinitech Laboratory IPO.

Clinitech Laboratory issue size and price band

The subscription window of Clinitech Laboratory will close on Monday, 29 July 2024. The Clinitech Laboratory IPO comprises a fresh issue of 6,744,000 shares aggregating up to Rs 70.8 crore and is available at Rs 96 apiece. Investors can apply for a minimum of 1,200 shares and in multiples thereof. The minimum amount required by a retail investor to apply for the Clinitech Laboratory IPO is Rs 115,200. 

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Clinitech Laboratory IPO allotment, listing date

The basis of allotment of the Clinitech Laboratory IPO shares is scheduled for Tuesday, 30 July 2024, while the shares are likely to be credited to Demat accounts on Wednesday, 31 July 2024. The tentative listing date of the Clinitech Laboratory IPO is Thursday, 1 August 2024. The company's shares will be listed on the BSE SME.

Clinitech Laboratory anchor book

Bigshare Services Pvt Ltd is the registrar for the Clinitech Laboratory IPO, while Inventure Merchant Banker Services Pvt Ltd is the book-running lead manager of the public issue. The promoters of Clinitech Laboratory include Ashutosh Jagdish Nayak, Jagdish Umakant Nayak, and Jyoti Jagdish Nayak. 

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Clinitech Laboratory IPO objective

The company seeks to use the net proceeds from the public issue for the expansion of diagnostic centres. Clinitech Laboratory will use the remaining amount for general corporate purposes.

Clinitech Laboratory financial details

The company's revenue witnessed a surge of 1.19 per cent year-on-year to Rs 63.92 lakhs in the financial year ended on March 31, 2024, from FY23. Clinitech Laboratory Limited's profit after tax (PAT) fell 39.46 per cent year-on-year to Rs 37.12 lakhs in FY24 from Rs 61.31 lakhs reported in FY23.

About Clinitech Laboratory

Founded in 1990 under the name of Nayak Clinical Laboratory, Clinitech Laboratory is one of the most trusted diagnostic centres and pathology labs. The market capitalisation of the Clinitech Laboratory IPO stands at Rs 21.91 crore.