Star Imaging and Path Lab Makes Modest Debut on BSE SME Platform
Star Imaging and Path Lab, a diagnostics and imaging company, listed on the BSE SME platform following an oversubscribed IPO. The Rs 69.47 crore IPO was oversubscribed 5.67 times, with QIBs showing the strongest demand at 12.85 times. Priced at Rs 142 per share, the IPO comprised a fresh issue of Rs 55.66 crore and an offer for sale of Rs 13.80 crore. The company reported a revenue of Rs 83.79 crore with a 5% YoY growth and a profit after tax of Rs 15.96 crore, marking a 28% increase. The stock's grey market premium of around 4% indicates cautious optimism among investors.
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Star Imaging and Path Lab, a diagnostics and imaging company, made its debut on the BSE SME platform following a successful initial public offering (IPO). The company's shares listed with a modest grey market premium, indicating a cautious but positive market sentiment.
IPO Details
The Rs 69.47 crore IPO, which was open for subscription from August 8 to August 12, garnered significant interest from investors across categories. The issue was oversubscribed 5.67 times, with Qualified Institutional Buyers (QIBs) showing the strongest demand:
- QIBs: 12.85 times oversubscribed
- Non-Institutional Investors (NIIs): 4.38 times oversubscribed
- Retail Investors: 2.32 times oversubscribed
The IPO was priced at Rs 142 per share and comprised a fresh issue of Rs 55.66 crore and an offer for sale of Rs 13.80 crore. Additionally, the company raised Rs 18.52 crore from anchor investors.
Company Profile
Star Imaging and Path Lab, incorporated in 2004, offers a comprehensive range of diagnostic and imaging services, including:
- X-rays
- CT scans
- MRIs
- Ultrasounds
- Pathology services
Financial Performance
The company reported the following financial metrics:
| Metric | Value | Change |
|---|---|---|
| Revenue | Rs 83.79 crore | 5% YoY growth |
| Profit After Tax | Rs 15.96 crore | 28% increase |
| EBITDA Margin | 34.22% | - |
| PAT Margin | 19.10% | - |
Market Response
The stock's grey market premium of around 4% suggests modest listing gains for investors. This cautious optimism reflects the market's assessment of the company's potential and the overall sentiment towards new listings in the SME segment.
The successful IPO and listing of Star Imaging and Path Lab on the BSE SME platform underscore the growing interest in small and medium enterprises among investors. As the company begins its journey as a publicly traded entity, market participants will be closely watching its performance and growth trajectory in the competitive diagnostics and imaging sector.
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