Jeena Sikho Lifecare
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Mar 2022 – 07 Apr 2022
- Listing date
- 19 Apr 2022
- Face value
- ₹10 per share
- Issue price
- ₹150 per share
- Lot size
- 1,000 shares
- Total issue size
- ₹55.50 Cr
- Market cap at offer price
- ₹207 Cr
- Promoter holding
- 90.00% → 65.86% pre-issue → post-issue
- ISIN
- INE0J5801029
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Fast Track Finsec Pvt.Ltd.
- Registered office
- SCO 11 First Floor, Kalgidhar Enclave, Zirakpur, Punjab
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 | 1,86,000 | — | — |
Application size
Minimum 1,000 shares per lot, in multiples, at ₹150
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,000 | ₹1,50,000 |
| S-HNI (min) | 2 | 2,000 | ₹3,00,000 |
| S-HNI (max) | 6 | 6,000 | ₹9,00,000 |
| B-HNI (min) | 7 | 7,000 | ₹10,50,000 |
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 (₹) | 10.05 | — |
| P/E (×) | 14.93 | — |
| Market cap | — | ₹207 Cr |
Key performance indicators
- Return on net worth
- 19.66%
- ROCE
- 42.00%
- Debt / equity
- 0.33
- PAT margin
- 7.00%
- NAV per share
- ₹23.81
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Jeena Sikho Lifecare
Jeena Sikho Lifecare Limited, incorporated on May 29, 2017, is an ayurvedic healthcare company headquartered in Zirakpur, Punjab. Founded by Mr. Manish Grover (known as Acharya Manish) with the mission to build a healthy India through preventive measures using authentic ayurvedic products, the company operates the Shuddhi brand. The promoters have been engaged in ayurvedic healthcare for over a decade, initially through 'God Grace Foundation' (2009) and 'Divya Upchar' brand before incorporating Jeena Sikho Lifecare in 2017. The company offers a wide range of ayurvedic products for various healthcare issues and operates Shuddhi Ayurveda Panchkarma Hospital (HIIMS), accredited by NABH. The hospital provides integrated treatment through Ayurveda, Allopathy, Homeopathy, and Naturopathy with a specialized medical team of twelve doctors.
Company Analysis
from RHPJeena Sikho Lifecare Limited is an ayurvedic healthcare company providing authentic ayurvedic products and services through its Shuddhi brand, operating in the healthcare and personal care sectors.
Jeena Sikho Lifecare Limited, incorporated on May 29, 2017, is an ayurvedic healthcare company headquartered in Zirakpur, Punjab. Founded by Mr. Manish Grover (known as Acharya Manish) with the mission to build a healthy India through preventive measures using authentic ayurvedic products, the company operates the Shuddhi brand. The promoters have been engaged in ayurvedic healthcare for over a decade, initially through 'God Grace Foundation' (2009) and 'Divya Upchar' brand before incorporating Jeena Sikho Lifecare in 2017. The company offers a wide range of ayurvedic products for various healthcare issues and operates Shuddhi Ayurveda Panchkarma Hospital (HIIMS), accredited by NABH. The hospital provides integrated treatment through Ayurveda, Allopathy, Homeopathy, and Naturopathy with a specialized medical team of twelve doctors.
Objects of the Issue
- Marketing & Sales Promotion of brand Shuddhi ₹1500.00 Lakh p.18
- Repayment of short-term borrowing ₹635.00 Lakh p.18
- Working capital requirement ₹2310.00 Lakh p.18
- General Corporate Purposes ₹1045.00 Lakh p.18
- Issue Expenses ₹60.00 Lakh p.18
- Marketing and sales promotion of brand 'Shuddhi' ₹1,500.00 lakhs p.65
- Repayment of short-term loan ₹635.00 lakhs p.65
- Working capital requirements ₹2,310.00 lakhs p.65
- General corporate purposes ₹1,045.00 lakhs p.65
- Issue expenses ₹60.00 lakhs p.65
Issue Structure
- Total Issue
- ₹5550.00 Lakh
- Fresh Issue
- ₹5550.00 Lakh (37,00,000 Equity Shares of Face Value Rs.10/- each at Rs.150/- per share)
- Offer for Sale
- Nil
- Price Band
- Fixed Price: Rs.150/- per Equity Share
- Face Value
- Rs.10/- per Equity Share
Business Model
The company earns revenue through sales of ayurvedic products targeting various healthcare segments (nutraceuticals, medicines, dietary supplements, and personal care items) and through healthcare services provided at its hospital and clinics. It operates clinics through both owned and franchisee models. Revenue comes from direct consumer sales, franchise agreements, and healthcare treatment services.
Business Segments
SWOT Analysis
- • Established brand recognition in ayurvedic healthcare with 'Shuddhi' brand(p.23)
- • NABH-accredited hospital facility providing integrated multi-therapy treatments(p.17)
- • Growing ayurvedic market with strong tailwinds(p.17)
- • Experienced promoter leadership in ayurvedic healthcare sector(p.17)
- • Strong promoter credibility with established personal brand 'Acharya Manish'(p.88)
- • Large franchisee network with 150+ clinics across 23 states under standardized SOPs(p.95)
- • Experienced and professional management team with specialized medical staff(p.102)
- • NABH accreditation for hospital demonstrating quality and standards compliance(p.88)
- • Strong financial performance with 60%+ revenue growth in FY 2022-23(p.67)
- • Diversified revenue streams through dealers, B2B, COD, and retail clinics(p.93)
- • Established ayurvedic healthcare brand with decade-long market presence(p.141)
- • Multi-channel brand visibility through television and digital platforms(p.141)
- • Diversified group entity portfolio in complementary healthcare segments(p.147)
- • Strong profitability with improving margins across financial periods(p.184)
- • Heavy reliance on two states (Punjab & Delhi) for 88.4% of revenues(p.23)
- • Limited operating history of only 4 years since incorporation(p.24)
- • Complete dependence on third-party manufacturers with no long-term agreements(p.25)
- • No intellectual property protection through patents for formulations(p.26)
- • Majority of clinics operated through franchisee model with termination risks(p.25)
- • Significant outstanding litigation against company and promoters(p.22)
- • High working capital requirements with negative cash flows from investing activities(p.29)
- • Minimal insurance coverage exposing company to material hazards(p.25)
- • Unsecured short-term loans of Rs. 635 lakhs recallable on demand(p.27)
- • Lease-based registered office with risk of non-renewal(p.24)
- • Related party conflicts with group entities engaged in similar business(p.26)
- • Limited geographic presence concentrated in North India with weak South/Northeast coverage(p.103)
- • Heavy financial dependence on IPO proceeds for working capital and brand marketing(p.67)
- • Unresolved trademark objections on multiple core brand assets including 'Shuddhi'(p.104)
- • High unsecured short-term loan burden requiring immediate IPO repayment(p.66)
- • High leverage with significant unsecured borrowing dependence(p.188)
- • Concentration risk in related-party revenue streams(p.176)
- • Limited operating track record as company incorporated in 2017(p.180)
- • Unfunded employee gratuity liability creates future cash obligations(p.173)
- • Expansion into new geographic markets within India(p.23)
- • Growth of ayurvedic products market at 15% CAGR(p.17)
- • Increased consumer awareness and acceptance of Ayurveda globally(p.17)
- • IPO proceeds allocated for marketing and brand expansion of 'Shuddhi'(p.18)
- • Government support through AYUSH Ministry with Rs. 3,400 crore allocated for wellness centers(p.85)
- • Expanding ayurvedic market projected to grow at 15% CAGR during 2021-2026(p.84)
- • Growing consumer preference for natural and organic products with rising health awareness(p.84)
- • Millennial demographics with 45% preference for healthy lifestyles willing to pay premium(p.87)
- • Market expansion into South India and Northeast India regions(p.103)
- • India's wellness industry valued at Rs. 49,000 crore growing on back of government focus(p.84)
- • Expansion of ayurvedic healthcare awareness and preventive health focus(p.180)
- • Growth through subsidiary expansion in adjacent product segments(p.180)
- • Pan-India market penetration via multi-state GST registrations(p.198)
- • Leveraging franchise model for market expansion(p.171)
- • Highly competitive fragmented ayurvedic market with low barriers to entry(p.28)
- • Free information on internet about ayurvedic products poses competitive risk(p.28)
- • Risk of counterfeiting and illegal distribution of products(p.24)
- • Regulatory raid and unresolved allegations against group entity(p.22)
- • SEBI interim order against Lead Manager restricting new merchant banking assignments(p.23)
- • Disruptions to distribution network from civil infrastructure or logistic failures(p.28)
- • Changes in government policies and regulatory actions affecting business(p.16)
- • Fluctuations in prices of raw materials affecting cost and profitability(p.31)
- • Consumer complaints and litigation risks from product efficacy and safety claims(p.23)
- • Natural calamities impacting Indian economy and company operations(p.37)
- • Interest rate fluctuations affecting borrowing costs(p.31)
- • Highly fragmented and competitive ayurveda market with organized and unorganized players(p.111)
- • COVID-19 pandemic ongoing impact on healthcare delivery and consumer movement(p.103)
- • Regulatory changes in government policy impacting ayurveda operations(p.103)
- • Market cyclicality with possibility of downturn affecting consumer spending(p.103)
- • Heavy reliance on centralized government schemes (CGHS/NABH) for hospital patient realization(p.67)
- • Multiple pending consumer litigation alleging product inefficacy and health claims(p.190)
- • Regulatory enforcement action under GST and excise laws(p.191)
- • Promoter involvement in criminal proceedings for alleged fraud(p.191)
- • Revenue volatility due to pandemic-related demand disruptions(p.185)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Manish Grover | Promoter | 89.00% | 65.20% |
| Bhavna Grover | Promoter | 1.00% | 0.66% |
| Manish Grover | Promoter | 89.00% | — |
| Bhavna Grover | Promoter | 1.00% | — |
| Manish Grover | Individual Promoter | 89.06% | — |
| Bhavna Grover | Individual Promoter | 0.90% | — |
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.