Chandan Healthcare board approves ₹104 crore fund raise via preferential issue

Chandan Healthcare, one of the leading diagnostics companies in North India, will raise ₹104 crore through a preferential issue of warrants and an exclusive nationwide diagnostic partnership with Jeena Sikho Lifecare Limited.

The Board of Directors of Chandan Healthcare has approved the issuance of up to 44.50 lakh fully convertible equity warrants on a preferential basis at ₹234 per warrant, aggregating to approximately ₹104 crore.

Each warrant will be convertible into one fully paid-up equity share.

The issue has been structured to include both promoter group participation and strategic institutional investors.

The company will issue 4.75 lakh warrants to the promoters while 39.75 lakh warrants will be issued to non-promoters.

Chandan Healthcare has also entered into an exclusive strategic partnership with Jeena Sikho Lifecare, one of the leading Ayurvedic healthcare providers, to establish diagnostic centres across all existing and upcoming Jeena Sikho hospitals and clinics across India.

Chandan will act as the exclusive diagnostic partner for all Jeena Sikho hospitals and clinics across 23 states and over 100 cities.

The company will provide end-to-end pathology and radiology solutions for patients.

The initiative aims to expand access to high-quality, affordable and tech-enabled diagnostic services across India, aligning with both organisations.

Amar Singh, Promoter and Managing Director of Chandan Healthcare, said the strong response from investors reflects deep confidence in the business model and growth strategy of the company.

A major part of the funds raised will be deployed towards expansion, including setting up new diagnostic laboratories, upgrading infrastructure, and strengthening working capital to support fast-growing operations, he said.

The collaboration with Jeena Sikho Lifecare represents a strong synergy between Chandan’s advanced diagnostic expertise and Jeena Sikho’s presence in Ayurvedic healthcare.

Jeena Sikho Lifecare operates a nationwide network of 55 hospitals and 74 clinics/daycare centres across 21 states and over 100 cities, offering more than 1,500 operational beds.

Chandan Healthcare said it has 40 diagnostic centres and over 360 collection centres.

Shares of the company were up 5 per cent at ₹302 crore.

Published on October 13, 2025