Chandan Healthcare Embarks on Growth Path with Rs 104.13 Crore Fundraise

Chandan Healthcare announced a significant financial maneuver on Tuesday, as the company's board approved a fundraise totalling Rs 104.13 crore through the issuance of equity warrants. This financial strategy is designed to strengthen the company's market position and enhance its operational capabilities.

The issuance will comprise up to 44,50,000 fully convertible equity warrants at a price of Rs 234 per warrant. The structured issuance aims to include contributions from both promoter group members and strategic institutional investors, highlighting a robust market confidence in the company's future prospects.

Furthermore, Chandan Healthcare has entered into an exclusive strategic partnership with Jeena Sikho Lifecare Ltd, a renowned Ayurvedic healthcare provider. This alliance will see the establishment of diagnostic centers at all existing and upcoming Jeena Sikho hospitals and clinics across India. Chandan's Managing Director, Amar Singh, emphasized that the majority of the funds would be utilized for organic and inorganic expansion, enhancing infrastructure, and bolstering working capital to support burgeoning operations nationwide.