|
PNN
Lucknow (Uttar Pradesh) [India], October 14: Chandan Healthcare Limited (NSE - CHANDAN), - Chandan Healthcare Limited, one of the leading players in North India's diagnostics and healthcare services sector, announced two significant developments that mark a new phase of strategic growth, approval of a 104.13 Cr fund raises through a preferential issue of warrants and an exclusive nationwide diagnostic partnership with Jeena Sikho Lifecare Limited. The Board of Directors of Chandan Healthcare Limited has approved the issuance of up to 44,50,000 fully convertible equity warrants on a preferential basis at an issue price of 234 per warrant, aggregating to approximately 104.13 Cr, subject to shareholder and regulatory approvals. Each warrant will be convertible into one fully paid-up equity share of face value 10. The issue has been structured to include both promoter group participation and strategic institutional investors, underscoring strong market confidence in the company's future growth trajectory. Allotment Summary * Promoter & Promoter Group: 4,75,000 warrants (including Mr. Amar Singh - Promoter & Managing Director, Mrs. Asmita Singh - Promoter & Managing Director, and other Promoter Groupmembers) * Non-Promoter Group: 39,75,000 warrants (including Jeena Sikho Lifecare Limited - 18,00,000 warrants, NEGEN Undiscovered Value Fund, NEGEN Capital Services Private Limited, and other institutional and individual investors) Chandan Healthcare has also entered into an exclusive strategic partnership with Jeena Sikho Lifecare Limited, one of India's leading Ayurvedic healthcare providers, to establish diagnostic centres across all existing and upcoming Jeena Sikho hospitals and clinics across India. Key Highlights of the Collaboration: * Exclusive Partnership: Chandan will act as the exclusive diagnostic partner for all Jeena Sikho hospitals and clinics across 23 states and 100+ cities. * Comprehensive Services: The company will provide end-to-end pathology and radiology solutions for both IPD and OPD patients. * Enhanced Accessibility: The initiative aims to expand access to high-quality, affordable, and tech-enabled diagnostic servicesacross India, aligning with both organizations shared vision of holistic healthcare delivery. This collaboration significantly expands Chandan Healthcare's national footprint, strengthening its position as a leading integrated healthcare provider with presence across diagnostics, hospitals, and retail pharmacy. Commenting on the development, Mr. Amar Singh, Promoter and Managing Director of Chandan Healthcare Limited, said, "Both the fund raise and the strategic partnership with Jeena Sikho mark pivotal steps in Chandan's journey toward becoming one of India's most trusted integrated healthcare brands. The strong response from investors reflects deep confidence in our business model and growth strategy. A major part of the funds raised will be deployed towards organic and inorganic expansion, including setting up new diagnostic laboratories, upgrading infrastructure, and strengthening working capital to support our fast-growing operations. This infusion will enable us to enhance capacity, deepen market presence, and accelerate our pan-India growth momentum. The collaboration with Jeena Sikho Lifecare Limited represents a strong synergy between Chandan's advanced diagnostic expertise and Jeena Sikho's deep-rooted presence in Ayurvedic healthcare. Together, we aim to bridge the gap between modern medicine and traditional wellness, creating a holistic model of patient care. This partnership will significantly expand our national footprint, enabling us to bring world-class, technology-driven diagnostic services to more regions across India, and make high-quality, affordable healthcare accessible to every individual." (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same.)
|
