Suraksha Diagnostic Secures SEBI Approval for IPO

8 Oct 2024 , 03:56 PM

Suraksha Diagnostic Ltd., based in Eastern India, has received approval from SEBI for its initial public offering (IPO).

SEBI issued the observation letter on September 30, enabling the company to proceed with the IPO. The IPO will consist of an offer for sale (OFS) of up to 19.19 million shares with a face value of ₹2 each. Promoters Dr. Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma will each offload 2.13 million shares.

OrbiMed Asia II Mauritius Ltd. will sell up to 10.66 million shares, while Munna Lal Kejriwal and Santosh Kumar Kejriwal will offload 799,556 shares and 1.33 million shares, respectively.

Established in 1992, Suraksha started as a comprehensive diagnostic center in Kolkata, offering radiology and pathology services under one roof.

For the fiscal year 2023-24, the company reported a net profit of ₹236.26 million and revenue of ₹2.19 billion. The IPO has received preliminary approvals for share listing on both the BSE and NSE.

ICICI Securities, Nuvama Wealth Management, and SBI Capital Markets are the lead managers for the offering, with Kfin Technologies serving as the registrar.