Star Imaging and Path Lab Ltd IPO 2025: Complete Guide with Price, Financials & Subscription Status

The Star Imaging and Path Lab Ltd IPO is one of the most anticipated initial public offerings in the healthcare diagnostics sector for 2025. Offering investors a strong entry into India’s diagnostic imaging and pathology business, this IPO is set to open in early August 2025. This detailed guide covers all essential aspects of the Star Imaging and Path Lab IPO including its issue size, price band, subscription status, financial performance, strengths, risks, and how to apply.

Company Overview

• Founded: 2004
• Industry: Healthcare, Diagnostics (Pathology and Imaging Services)
• Business Model: Operates diagnostic centers offering imaging and pathology testing services across India
• Revenue: ₹83.23 crore (FY 2023)
• Assets: ₹98.16 crore (FY 2023)
• Founders/Management: Information on founders is not widely public, managed by experienced healthcare professionals

IPO Details

• IPO Type: Mainline IPO
• Issue Size: Approximately ₹69 crore (including fresh issue and OFS)
• Price Band: ₹135 to ₹142 per share
• Lot Size: 1000 shares
• Open Date: 8th August 2025
• Close Date: 12th August 2025
• Listing Date: 18th August 2025
• Grey Market Premium (GMP): Around ₹5 to ₹7 as per market estimates

IPO Objectives

• To expand the company’s diagnostic and imaging network
• To invest in advanced diagnostic technology and infrastructure
• To repay certain debts and improve capital structure
• General corporate purposes

Pre-IPO Placements and Major Investors

Currently, there is no widely reported major pre-IPO placement or anchor investor data available. The IPO will primarily be open to retail, institutional, and high net-worth investors.

Financial Highlights

• Revenue (₹ Crore): FY 2021: ₹58.68, FY 2022: ₹79.97, FY 2023: ₹83.23
• Profit After Tax (PAT): Data indicates positive profitability but specific PAT figures for recent years are not publicly detailed
• Return on Equity (ROE): Not disclosed; generally expected to be moderate based on industry standards
• Assets: ₹98.16 crore (FY 2023)

Peer Comparison

• Peers in the diagnostic sector include: Metropolis Healthcare, Dr. Lal PathLabs, SRL Diagnostics
• Valuation Metrics: Peers have varied PE ratios ranging between 40x to 60x and ROEs in the 15%-30% range
• Star Imaging’s valuation is positioned to offer growth potential at a relatively attractive price point compared to larger peers

Strengths

• Established presence in Indian diagnostic imaging and pathology market
• Growing revenue trajectory over last 3 years
• Focus on expanding diagnostic network and infrastructure
• Increasing demand for diagnostic services in India supports sector growth

Risks

• Competition from well-established large diagnostic chains
• Regulatory risks in healthcare sector
• Modest profitability and relatively smaller size compared to large peers
• Market volatility impacting IPO subscription and listing gains

Expert Verdict

The Star Imaging and Path Lab Ltd IPO offers investors a good opportunity to invest in a growing diagnostics company with expanding operations. While the company is smaller in scale compared to large listed diagnostic firms, its growth trajectory and sector prospects are encouraging. Investors should weigh the company’s current valuation, financial strength, and sector risks before applying.

Subscription Status

• QIB Portion: 50%
• HNI/NII Portion: 15%
• Retail Portion: 35%
• As of mid-subscription, moderate interest reported with retail subscription gaining traction

Allotment & Listing Timeline

• IPO Close: 11th or 12th August 2025
• Basis of Allotment: Around 15 days after closing date
• Refunds and Share Credit: 1-2 days after allotment
• Listing Date: 18th August 2025 on BSE SME platform

FAQs

• Q: What is the minimum investment? The lot size is 1000 shares with price band ₹135-₹142, so minimum around ₹1,35,000 to ₹1,42,000.
• Q: Is this IPO mainline or SME? It is a Mainline IPO.
• Q: Where will the shares be listed? On BSE SME platform.
• Q: How can I apply for the IPO? Through ASBA facility via your bank or stock broker’s IPO application platform.

How to Apply

Investors interested in applying to the Star Imaging and Path Lab Ltd IPO can apply online through the ASBA (Application Supported by Blocked Amount) facility available on internet banking platforms and through stock trading apps like Zerodha, Upstox, Angel Broking, and others. For a step-by-step guide and application link, visit the official IPO page on NSE India or BSE India websites.