Dasra Healthcare Files DRHP for ₹37.5 Lakh Share IPO on NSE Emerge

New Delhi, Oct 3, 2025: Bhilwara-based Dasra Healthcare Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on the NSE Emerge platform. The IPO will comprise 37,50,000 fresh equity shares of ₹10 each, with no Offer for Sale (OFS) component. Details regarding the price band, lot size, and subscription schedule will be announced in due course.

Dasra Healthcare was constituted in March 2024 and thereafter acquired Krishna Hospital, which is a well-known healthcare facility in Bhilwara, Rajasthan. Established in 1997, Krishna Hospital is a multi-specialty organization with a current bed strength of 150 beds and approvals to increase the bed strength up to 200 beds. The hospital offers a wide range of medical services starting from cardiology, orthopedics, gynecology, nephrology, neurosurgery, oncology, dialysis, to intensive critical care. It also has 24×7 emergency services, in-house pharmacy, diagnostic and lab, radiology, cath lab, and ambulance services.

Dasra Healthcare Utilisation of IPO Proceeds

According to the draft document, the IPO proceeds will be deployed across a multi-pronged growth strategy. Approximately ₹1,090 lakh will be used to acquire state-of-the-art medical equipment, ₹715 lakh for hospital renovations and interior upgrades, and ₹600 lakh to bolster working capital. Additionally, ₹2,100 lakh will be allocated for prepayment or retirement of borrowings. The remaining funds will be used for general corporate purposes, subject to a cap of 15% of the gross proceeds or ₹1,000 lakh, whichever is lower.

Dasra Healthcare IPO Financial Performance

Dasra Healthcare earned revenues of ₹5,109.92 lakh on operations during the financial year 2024–25 on a Profit After Tax (PAT) of ₹1,129.03 lakh. The net worth of the company was ₹2,037.04 lakh, and borrowings were ₹2,443.40 lakh. Its earnings per share (EPS) were ₹14.70, and its net asset value (NAV) per share was ₹26.53. Inpatient services represented nearly 92 percent of the operating income in FY25, emphasizing the high dependency of the hospital on core health care services.

Dasra Healthcare IPO Promoters and Shareholding

The company is promoted by Kailash Chandra Kabra, Sangeeta Kabra, and Prateek Kabra. The promoter group collectively holds 100 percent of pre-issue equity, i.e., 76,78,800 shares. As per the regulation guidelines, at least 20 percent of the post-issue capital will be frozen as promoter contribution.

Dasra Healthcare IPO Key Challenges and Risks

The company has highlighted several potential risks in its interim filing. Timely execution of capital expenditure and renovation plans is critical to expand hospital capacity. Trade receivables remain high, standing at around ₹1,017 lakh as of 31 March 2025. Retaining specialist doctors, nurses, and paramedical staff is essential for continued operations. Compliance with regulatory requirements, including licensing, NABH accreditation, and clearance to operate radiation equipment, will be closely monitored. Notably, Dasra Healthcare carries significant debt obligations, and a portion of the IPO proceeds has been utilised to partially repay borrowings of ₹2,443 lakh.

Dasra Healthcare IPO Intermediaries

Mark Corporate Advisors Pvt Ltd has been appointed as the Book Running Lead Manager (BRLM) of the issue, and Bigshare Services Pvt Ltd will act as the registrar. The IPO will be listed on NSE Emerge, the exchange’s SME platform.

REF: https://nsearchives.nseindia.com/emerge/corporates/content/sshetye_01102025182641_DasraDRHP.pdf

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