Docmode Health Technologies
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 25 Jan 2024 – 29 Jan 2024
- Listing date
- 02 Feb 2024
- Face value
- ₹10 per share
- Issue price
- ₹79 per share
- Lot size
- 1,600 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹6.71 Cr
- Market cap at offer price
- ₹24.83 Cr
- Promoter holding
- 65.02% → 47.44% pre-issue → post-issue
- ISIN
- INE0OGG01015
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Fedex Securities Pvt.Ltd.
- Registered office
- 201, Kalpataru Plaza, Rambaug Off Chincholi Bunder Road, Malad, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 43,200 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹79
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,26,400 |
| S-HNI (min) | 2 | 3,200 | ₹2,52,800 |
| S-HNI (max) | 7 | 11,200 | ₹8,84,800 |
| B-HNI (min) | 8 | 12,800 | ₹10,11,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 8.50 | 8.66 |
| P/E (×) | 9.29 | 9.12 |
| Price to book (×) | 4.85 | — |
| Market cap | — | ₹24.83 Cr |
Key performance indicators
- Return on net worth
- 56.06%
- ROCE
- 22.46%
- Debt / equity
- 2.44
- PAT margin
- 5.93%
- NAV per share
- ₹16.29
- Price to book
- 4.85
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Docmode Health Technologies
Docmode Health Technologies Limited is a healthcare technology education company incorporated in July 2017 that offers integrated learning solutions through online and offline models to doctors, physicians, surgeons, and allied healthcare professionals such as dieticians, physiotherapists, nurses, technicians, and paramedics across the world. The company operates multiple platforms including DocMode LERN (learning management system), DocMode SURE (research and survey platform), DocMode KNOW (knowledge marketing for pharmaceutical companies), DocMode CARE (clinical decision-making tools like iNutrimon), and DocMode SHOP (e-commerce for healthcare professionals). With 3,79,736 registered healthcare professionals as of January 17, 2024, the company generates revenue through certification programs, live conferences, workshops, knowledge marketing services, and clinical applications. The company was incorporated as a private limited company and converted to a public company in December 2022.
Company Analysis
from RHPDocMode is an integrated learning solutions provider offering online and offline education platforms for healthcare professionals and learners, spanning continuing medical education, professional development, research, and clinical practice tools.
Docmode Health Technologies Limited is a healthcare technology education company incorporated in July 2017 that offers integrated learning solutions through online and offline models to doctors, physicians, surgeons, and allied healthcare professionals such as dieticians, physiotherapists, nurses, technicians, and paramedics across the world. The company operates multiple platforms including DocMode LERN (learning management system), DocMode SURE (research and survey platform), DocMode KNOW (knowledge marketing for pharmaceutical companies), DocMode CARE (clinical decision-making tools like iNutrimon), and DocMode SHOP (e-commerce for healthcare professionals). With 3,79,736 registered healthcare professionals as of January 17, 2024, the company generates revenue through certification programs, live conferences, workshops, knowledge marketing services, and clinical applications. The company was incorporated as a private limited company and converted to a public company in December 2022.
Objects of the Issue
- Purchase of IT infrastructure and operating system ₹303.08 lakhs p.83
- Meeting incremental working capital requirements ₹200.00 lakhs p.83
- General corporate purposes ₹103.10 lakhs p.83
Issue Structure
- Total Issue
- ₹671.18 Lakhs
- Fresh Issue
- ₹671.18 Lakhs (8,49,600 equity shares at ₹79 per share)
- Offer for Sale
- Nil (NA)
- Price Band
- ₹79 per share (fixed price)
- Lot Size
- 1,600 Equity Shares and in multiples thereof
- Face Value
- ₹10 per share
Business Model
The company earns revenue through multiple streams: (1) Online and hybrid learning programs with certification courses in partnership with medical institutions and associations; (2) Knowledge marketing services to pharmaceutical companies for updating healthcare professionals; (3) Survey and research platform participation fees from healthcare professionals; (4) E-commerce sales of books, journals, and event passes; (5) Clinical application subscriptions (iNutrimon for nutrition management in healthcare facilities). Revenue is generated primarily from domestic sources (99.7% in the first half of FY2024), with services delivered through PAAS (Platform as a Service) model utilizing cloud-based infrastructure.
Business Segments
SWOT Analysis
- • Technology-driven, asset-light & scalable online learning platform for healthcare professionals(p.129)
- • Strong network of healthcare professionals and medical institutions across specialties(p.129)
- • Experienced management team with 22+ years combined healthcare industry expertise(p.122)
- • Diversified integrated education offerings spanning CME, live lectures, guidelines, and workshops(p.129)
- • 87 certified programs in partnership with 35+ medical associations and universities globally(p.125)
- • ISO 27001:2013 registered for Information Security Management(p.122)
- • Dependency on relationships with healthcare professionals who may seek better opportunities elsewhere(p.30)
- • Company yet to place orders for IT infrastructure valued at ₹303.08 Lakhs(p.28)
- • Past delays in statutory dues deposits including GST GSTR3B returns and EPF deposits(p.29)
- • Subsidiary company has incurred losses; no assurance of profitability(p.32)
- • All properties used for business are leased rather than owned(p.36)
- • High outstanding unsecured loans of ₹811.08 Lakhs repayable on demand(p.34)
- • India's healthcare sector projected to grow to US$372 billion by 2022 at 22.52% CAGR(p.110)
- • E-health market expected to reach US$10.6 billion by 2025(p.110)
- • India's education sector growing from US$117 billion (FY20) to expected US$225 billion by FY25(p.112)
- • Government spending on healthcare planned to increase to 2.5% of GDP by 2025(p.111)
- • Expanding telemedicine initiatives and digital health infrastructure across India(p.118)
- • Develop practice tools similar to iNutrimon in every medical specialty(p.130)
- • Intense competition from organized and unorganized players with ability to compete on price(p.31)
- • Regulatory changes in medical education sector could curtail operations or impose additional obligations(p.29)
- • Dependence on relationships with key medical institutions with no long-term agreements(p.33)
- • Global economic volatility and geopolitical tensions affecting Indian securities markets(p.41)
- • COVID-19 pandemic may continue adversely affecting business and operations(p.42)
- • Natural disasters and man-made disasters could materially disrupt operations(p.43)
- • Promoter group company engaged in same business line without non-compete agreement(p.44)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Paulson Paul Thazhathedath | Promoter | 32.50% | 23.71% |
| Hans Albert Lewis | Promoter | 32.50% | 23.71% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.