Aarna Diagnostics Limited
Healthcare Services · Mainboard IPO
Last updated 2026-08-01 18:30 IST
Key details
- Price band
- Rs 412 – 434
- Face value
- Rs 2
- Lot size
- 34 shares
- Minimum investment
- Rs 14,756
- Issue size
- Rs 890 Cr
- Fresh issue
- Rs 640 Cr
- Offer for sale
- Rs 250 Cr
- Employee discount
- Rs 40 per share for eligible employees
- Retail quota
- 35% of the issue
- Registrar
- KFin Technologies Limited
- Exchanges
- BSE, NSE
- Opening date
- 30 Jul 2026
- Closing date
- 01 Aug 2026
- Allotment date
- 04 Aug 2026
- Listing date
- 06 Aug 2026
Explain this IPO simply
The same information as the prospectus, written the way you would explain it to a friend.
What the company does
Aarna Diagnostics operates pathology labs and collection centres, mostly in tier-2 cities, offering blood tests, imaging and preventive health packages.
How it earns money
Patients and hospitals pay per test. Preventive health packages sold to companies bring repeat annual revenue.
Why it is launching an IPO
Money will be used to open new laboratories, buy diagnostic equipment, and provide funds for general corporate purposes.
Where the IPO money will be used
New laboratories and equipment (48%), Working capital (12%), General corporate purposes (12%), Offer for sale to selling shareholders (28%).
Major strengths
Low borrowings, Repeat corporate customers, Consistent profit growth.
Major risks
Strong competition from national chains, Regulatory dependence, Expansion may take time to break even.
Clarity score: 86 / 100
What this score means
Financial performance
Revenue moved from Rs 640 Cr in FY2023 to Rs 968 Cr in FY2025. Profit after tax over the same period moved from Rs 78 Cr to Rs 134 Cr. These are past figures only and are not a forecast.
Potential strengths
Low borrowings
Reported total borrowings of Rs 42 crore against a net worth of Rs 740 crore.
Source: RHP, Financial Indebtedness, page 254
Repeat corporate customers
Annual health check contracts with employers provide recurring test volumes.
Source: RHP, Our Business, page 131
Consistent profit growth
Profit after tax rose in each of the three years disclosed.
Source: RHP, Restated Financials, page 210
Potential risks
Strong competition from national chains
Larger diagnostic chains compete on price in the same cities.
Source: RHP, Risk Factors, page 29
Regulatory dependence
Laboratories require licences and accreditation that must be renewed.
Source: RHP, Risk Factors, page 36
Expansion may take time to break even
New labs typically take several quarters before covering costs.
Source: RHP, Objects of the Offer, page 96
Use of IPO funds
Money marked as going to selling shareholders does not reach the company.
Valuation
- 46.8
- 7.4
- Earnings per share
- 9.28
- Return on net worth
- 18.2%
- Net asset value
- 58.6
Peer comparison
| Company | P/E | RoNW |
|---|---|---|
| Metro Path Labs | 52.1 | 19.4% |
| Careline Diagnostics | 41.6 | 15.8% |
| Sanjivani Labs | 44.9 | 17.2% |
Subscription status
- Day 1 total
- 2.31x
- Day 2 total
- 6.05x
- Latest total
- 11.80x
Updated 2026-08-01 16:10 IST
Grey market premium
Unofficial and unregulated
- Current GMP
- Rs 88
- Previous GMP
- Rs 94
- Indicative level only
- Rs 522
Updated 2026-08-01 18:30 IST. Source: unofficial dealer chatter, not an exchange or regulator.
Important documents
IPO timeline
IPO opens
30 Jul 2026
First day you can apply.
IPO closes
01 Aug 2026
Last day to apply, usually by evening.
Allotment
04 Aug 2026
Who gets shares is decided.
Refund / unblock
05 Aug 2026
Blocked money is released if you did not get shares.
Shares in demat
05 Aug 2026
Allotted shares reach your demat account.
Listing day
06 Aug 2026
Shares start trading on the exchange.
Frequently asked questions
Where this information comes from
- Last updated
- 2026-08-01 18:30 IST
- Last verified
- 2026-08-01
- Primary source
- RHP filed with SEBI
- Secondary source
- BSE issue information page