Dasra Healthcare Ltd

About Dasra Healthcare Limited IPO

Dasra Healthcare Limited IPO is an IPO of up to 37,50,000 equity shares. It consists of a fresh issue of up to 37,50,000 equity shares. The shares will be allotted on TBA. The credit of shares to the demat account will take place on TBA, and the initiation of refunds will take place on TBA.

Objective of Dasra Healthcare Limited IPO

• Towards the purchase of capital equipment for the existing hospital.
• To fund the working capital requirements of the company.
• To repay/prepay certain loans availed by the company from banks.
• To fund expenditure towards general corporate purposes.

Industry Outlook

Healthcare has become one of India's largest sectors, both in terms of revenue and employment. The industry is growing at a remarkable pace, driven by strengthened coverage, improved services, and increased expenditure from both public and private players. As of 2024, the Indian healthcare sector stands as one of India's largest employers, providing jobs to a total of 75,00,000 people. The Indian healthcare market witnessed a robust Compound Annual Growth Rate (CAGR) of 22.52% between 2016 and 2022, highlighting its rapid growth trajectory. Healthcare profit pools are expected to grow at a 4% CAGR, increasing from US$ 65,400 crores in 2021 to US$ 79,000 crores in 2026. The total industry size was estimated at US$ 37,200 crores in 2022. The Indian healthcare market, valued at US$ 11,000 crores in 2016, is now projected to reach US$ 63,800 crores by 2025.

Company Information

Dasra Healthcare Limited, in accordance with its main objects, acquired all the assets and liabilities of Krishna Hospital as a going concern as of 31 March 2024, including its business, via a Business Transfer Agreement dated 3 April 2024. The hospital is a 150- bedded multispecialty facility offering a wide range of diagnostic, medical, and surgical therapeutic services under one roof. It is equipped with diagnostic devices such as a cath lab with live stent booster, echocardiography, ECG, CT scan, colour Doppler, laparoscopic surgery, laser surgery for kidney stones, endoscopy, RIRS, colonoscopy, lithotripsy, dialysis, ICU on wheels, sonography, and X-ray machines. The hospital also features SICU, MICU, CCU, NICU, and PICU units. It is supported by an in-house oxygen plant, two power backup generator sets, and a 170 KWA solar rooftop power plant. Krishna Hospital, located in Bhilwara, Rajasthan, offers services in departments such as laser surgery, gynaecology & obstetrics, general medicine, emergency medicine, orthopaedics, spine surgery, paediatrics, radiology, pathology, pain management, and anaesthesiology. Its super-speciality departments include urology, pulmonology, cardiology, nephrology, neurosurgery, neurology, medical oncology, surgical oncology, GI surgery, plastic surgery, bariatric surgery, and joint replacement.

Risks of Dasra Healthcare Limited IPO

• They are highly dependent on their doctors, nurses, and other healthcare professionals. The loss of, or inability to attract or retain, such personnel could adversely affect their business and operational performance.

• Their ability to provide affordable healthcare depends on maintaining a high volume of patients, sustaining occupancy rates, controlling operating and project costs, and effective capital management. An increase in any of these costs could negatively impact their business, financial condition, and results of operations.

• They are exposed to legal claims and regulatory actions arising from the delivery of healthcare services and may be held liable for allegations of malpractice or medical negligence, which could seriously damage their reputation and future prospects.

The comparable for the peer group companies are as on March 31, 2024 and based on the stand-alone results.

The comparable for the Issuer Company is as on August 31, 2024 as there were no operations in the Company as on March 31, 2024 and no ratios were available.

Anchor Investor Information

The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date.

IPO Registrar and Book Running Lead Managers

Book running lead managers:

Mark Corporate Advisors Private Limited

Registrar for the IPO is Bigshare Services Private Limited

Business Model

The company earns its revenue from operating a 150-bedded multispecialty hospital that offers a comprehensive range of diagnostic, medical, and surgical therapeutic services under one roof.

Company Growth Trajectory

During the period ended 31 August 2024, revenue from operations was ₹20.61 crores, comprising revenue from services rendered by the hospital in both the out-patient department and the in-patient department. During the same period, other income amounted to ₹0.0185 crores. The company reported a restated profit after tax of ₹4.04 crores for the period ended 31 August 2024.

Company Market Position

They face regional competition from players operating in the same regions and localities as them. Their primary competition comes from other providers offering secondary and tertiary healthcare services across various specialties. They believe they have gained a competitive edge through continuous innovation and technical expertise. The company has consistently delivered strong operational and financial performance driven by high patient volumes, cost efficiency, and diversified revenue streams across medical specialties.

How To Check Allotment Status of Dasra Healthcare Limited IPO?

You can check the allotment status of shares either on the website of the National Stock Exchange (NSE) or on the website of the registrar Bigshare Services Private Limited. To check the status on the NSE website:

• Visit the NSE website
• Click on “Investor Services” and choose “Application Status Check”
• Choose the issue type — Equity or Debt (Equity in this case)
• Select the Issue Name from the drop-down. The issue name is the company’s name, which is Dasra Healthcare Limited
• Enter your application number or PAN number
• Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status

Follow these steps to know the allotment status on the registrar’s website:

• Visit the Bigshare Services Private Limited website
• Choose “Public Issues” from the “Investor Services” drop-down
• Select Dasra Healthcare Limited from the drop-down
• Enter your PAN number or Application number
• Click on “Submit” to know the allotment status