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Star Imaging & Path Lab Limited IPO
Star Imaging & Path Lab Limited IPO is of ₹69.47 crores, consisting of 39.20 lakh fresh equity shares of ₹55.66 crores and 9.72 lakh offer-for-sale shares worth ₹13.80 crores. The IPO is to be subscribed publicly between 8th August 2025 to 12th August 2025. Retail investors can apply for a minimum lot size of 2,000 shares, which will be of ₹2,70,000 and HNIs can apply for 3,000 shares worth ₹4,26,000. Allotment of the issue will be completed on 13th August, 2025 and the shares are likely to be listed on 18th August 2025 on the NSE SME platform.
Company Background
The company was conceptualized as the high-tech arm of the Janta X-Ray Clinic, which was founded way back in 1978. Initially, Star Imaging only provided X-ray and basic pathology services, but it has now evolved to providing a comprehensive range of services from radiology to cardiology and neurology all under one roof. Their labs utilize advanced technologies like MRI, Cone Beam CT and more to enable quality testing.
Operations & Product Range
Facility and Services
Star Imaging has a strong focus on providing world-class, cost-efficient diagnostics that cater to patients’ comfort. In order to provide support during the early stages of disease detection and preventive measures, the company provides services through its facilities equipped with advanced technologies like CT scan and Echocardiography. They provide various services like 24/7 radiology services, ICU, digital mammography, digital OPG, auto-analyzer for biochemistry and many more.
Brand and Market Presence
Star Imaging and Path Lab has a well-established presence in Delhi, renowned for its advanced functions like Open Bore MRI and a 32-slice CT scanner. With over 35 years of operations, the company provides diagnostics services to more than 1 million patients annually and has established reputable NABL-accredited laboratories. The company’s digital platform enables convenience in sample collection from home as well as in accessing reports online.
Revenue Channels
The company earns most of its revenue from three major sources -
- 1. Pathology and Radiology Services - This segment constitutes approximately 35% of the company’s revenue by facilitating walk-in patients and sample collection from home.
- 2. Public-Private Partnerships - In FY25, this segment made up about 57% of the company’s revenue due to the company’s long-term partnerships with government hospitals in Delhi and providing services like MRI, CT Scan, radiology and more.
- 3. Private Hospital Tie-Ups - Star Imaging has strategically partnered with over 40 private hospitals based in Delhi, which help in the expansion of the company’s brand presence and constitute about 6.29% of its revenue.
Management & Shareholding
Promoters and Shareholders
The promoters of Star Imaging & Path Lab IPO are Mr. Pawan Gupta and Ms. Chhaya Gupta, who currently have a 100% stake in the company. The promoter shareholding is expected to be diluted after its IPO listing on 8th August.
Board Members
The board includes various members with managerial expertise of over 35 years in the company, such as Mr. Pawan Gupta who is the Chairman as well as the Managing Director of the company, Dr. Sameer Sood who is Non-executive director in Star Imaging, Ms. Chhaya Gupta and Ms. Neelam Ratra who are the executive directors in the company and Dr. Vimal Gupta, Dr. Yogesh K Virmani & Mr. Dikshant Nagpal who are the Independent directors of the company.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Star Imaging & Path Lab Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Star Imaging & Path Lab Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | August 8, 2025 to August 12, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹135 to ₹142 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 48,92,000 shares (aggregating up to ₹69.47 Cr) |
| Reserved for Market Maker | 4,80,000 shares (aggregating up to ₹6.82 Cr) Share India Securities Limited |
| Fresh Issue (Ex Market Maker) | 34,40,000 shares (aggregating up to ₹48.85 Cr) |
| Offer for Sale | 9,72,000 shares of ₹10 (aggregating up to ₹13.80 Cr) |
| Net Offered to Public | 44,12,000 shares (aggregating up to ₹62.65 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,35,00,000 shares |
| Share Holding Post Issue | 1,74,20,000 shares |
Star Imaging & Path Lab Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Fri, Aug 8, 2025 |
| IPO Close Date | Tue, Aug 12, 2025 |
| Tentative Allotment | Wed, Aug 13, 2025 |
| Initiation of Refunds | Thu, Aug 14, 2025 |
| Credit of Shares to Demat | Thu, Aug 14, 2025 |
| Tentative Listing Date | Mon, Aug 18, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 12, 2025 |
Star Imaging & Path Lab Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,84,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,84,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,26,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,94,000 |
| B-HNI (Min) | 8 | 8,000 | ₹11,36,000 |
Star Imaging & Path Lab Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 71.92% |
Competitive Strength:
- 1. Their labs, equipped with advanced technology, provide accurate diagnoses to patients.
- 2. The company has a staff with specialized expertise in providing consultation to the company’s clients.
- 3. Star Imaging provides its patients with proper sample collection services from labs or from home according to their convenience.
Star Imaging & Path Lab Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 98.16 | 83.79 | 15.96 | 47.15 | 32.73 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 82 | 80 | 12 | 31 | 30.64 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 61.23 | 58.68 | 0.58 | 18.93 | 26.56 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 40.65% |
| ROCE | 29.92% |
| Debt/Equity | 0.69 |
| RoNW | 40.65% |
| PAT Margin | 19.10% |
| EBITDA Margin | 34.22% |
| Price to Book Value | 4.07 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.82 | 9 |
| P/E (x) | 12.01 | 16 |
Objectives of Star Imaging & Path Lab Limited IPO
The proceeds gained from the IPO listing will be used to refurbish medical equipment in the company’s current facilities, repay some of the debt availed by the company, to provide funds in order to fulfill working requirements and to smoothly manage general corporate functioning.
Conclusion
Star Imaging & Path Labs Limited IPO provides a chance for investment in a well-established diagnostics lab. The company has a wide and well-established client base in Delhi, catering to over a million patients annually and is looking forward to expanding its footprint globally. It provides tech-equipped services like MRI, Cone Beam CT, Echocardiography, Radiology and many more. Star Imaging & Path Labs Limited IPO will provide support for the company’s plan to enhance its presence in the healthcare market as well as to enhance its market presence.
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Frequently asked Questions (FAQs )
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1. What is the issue size of the Star Imaging & Path Labs Limited IPO?
Star Imaging & Path Lab Limited IPO is of ₹69.47 crores, consisting of 39.20 lakh fresh equity shares and 9.72 lakh offer-for-sale shares.
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2. What is the IPO shareholding pattern?
The promoters currently have a 100% stake in the company, which is expected to be diluted post-IPO.
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3. When will the allotment and listing happen?
Allotment of the issue will be completed on 13th August, 2025 and the shares are likely to be listed on 18th August 2025 on the NSE SME platform.
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4. Who are the lead managers and registrars of the issue?
The lead manager and registrar for the issue are Share India Capital Services Private Limited and Kfin Technologies Limited, respectively.
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