Star Imaging IPO listing: Star Imaging shares made a muted debut on the bourses on Monday, August 18, listing at ₹142 on BSE SME, same as its issue price.
The ₹69.47 crore IPO received strong investor response during its subscription period from July 30 to August 1, achieving an overall subscription of 5.67 times. Total bids amounted to 1.76 crore shares, far exceeding the 31.08 lakh shares available for allotment.
Within investor categories, the Qualified Institutional Buyer (QIB) segment recorded the highest demand, subscribing 12.85 times. Non-institutional investors (NIIs) subscribed 4.38 times, while the retail segment was subscribed 2.32 times. The employee category, however, remained under-subscribed, with only 31 percent of its allocation booked.
About the IPO
The Star Imaging IPO comprised a fresh issue of 39.2 lakh shares amounting to ₹55.66 crore and an offer for sale (OFS) of 9.72 lakh shares aggregating to ₹13.80 crore.
The lot size for the issue was fixed at 1,000 shares. For retail investors, the minimum investment requirement was ₹2,70,000, which amounted to 2,000 shares.
Star Imaging planned to utilise the net proceeds from the fresh issue for several purposes. Of the total, ₹25 crore was proposed to meet working capital requirements, while ₹12 crore was allocated for repayment or prepayment of certain borrowings. In addition, ₹5.14 crore was earmarked for funding capital expenditure towards the purchase of refurbished medical equipment for its running facilities. The balance was set aside for general corporate purposes.
Ahead of the IPO launch, the company raised ₹18.52 crore from anchor investors. The anchor bidding date was scheduled for August 7, 2025. Share India Capital Services Pvt. Ltd. acted as the book-running lead manager to the issue, while Kfin Technologies was appointed as the registrar.
About the Company
Incorporated in 2004, Star Imaging and Path Lab Limited is a healthcare company that offers a wide range of diagnostic services. The company provides imaging solutions such as X-rays, ultrasounds, CT scans, and MRIs, along with laboratory testing, including blood, urine, and other specialized diagnostics.
Equipped with advanced technology and supported by experienced professionals, the company focuses on delivering accurate and timely reports to aid effective diagnosis and treatment. With a presence across multiple regions, Star Imaging and Path Lab serves both individual patients and healthcare institutions.
Star Imaging Limited reported a 5 percent rise in revenue, growing from ₹79.97 crore in March 2024 to ₹84.79 crore in March 2025. The company’s profit after tax (PAT) also saw a notable increase of 28 percent, rising from ₹12.45 crore to ₹15.96 crore.
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