Chandan Healthcare to raise Rs 104cr from promoters, strategic investors

New Delhi, Oct 14 (PTI) Diagnostics and healthcare services provider Chandan Healthcare on Tuesday said its board has approved a Rs 104.13 crore fundraise through a preferential issue of warrants and an exclusive nationwide diagnostic partnership with Jeena Sikho Lifecare Ltd.

The board has approved the issuance of up to 44,50,000 fully convertible equity warrants on a preferential basis at an issue price of Rs 234 per warrant, aggregating to approximately Rs 104.13 crore, according to an exchange filing.

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 it added.

Chandan Healthcare has also entered into an exclusive strategic partnership with Ayurvedic healthcare provider Jeena Sikho Lifecare Ltd to establish diagnostic centres across all existing and upcoming Jeena Sikho hospitals and clinics across India, the company said.

"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," Amar Singh, Promoter and Managing Director of Chandan Healthcare Limited, said.

This infusion will enable us to enhance capacity, deepen market presence, and accelerate our pan-India growth momentum, Singh added. PTI MSS MR MR