Suraksha Diagnostic IPO Price Band Set at ₹420-₹441 Per Share

26 Nov 2024 , 12:50 PM

Suraksha Diagnostic Ltd., a West Bengal-based diagnostic services provider, will launch its IPO on November 29, 2024, closing on December 3, 2024

Suraksha Diagnostic Ltd IPO’s Price band is set at ₹420 to ₹441 per equity share. The issue size amounts to ₹846.25 crore. The bids can be made in multiple lots of 34 shares. The offer is entirely Offer for Sale, since it includes the offer of 19,189,330 equity shares by existing shareholders.

Promoter Shareholders Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma, and investors OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal, and Santosh Kumar Kejriwal are selling shareholders.

Since the offer is pure OFS, the consideration is obtained fully and only by the selling shareholders. The booking will be divided 50% for institutional eligible buyers and 35% for retails investors and 15% for non-institutional buyers.

Suraksha Diagnostic is an operation of pathology, radiology, and medical consultancy services. It has spread its presence over West Bengal, Bihar, Assam, and Meghalaya since the year 2005. The company owns a central lab, 8 satellite labs, and more than 215 touch points consisting of diagnostic centers and sample collection.

FY24 revenue increased to ₹219 crore from ₹190 crore, and a net profit stood at ₹23 crore. The lead manager to this issue is ICICI Securities, Nuvama Wealth Management, and SBI Capital Markets. Kfin Technologies will be the registrar to the issue. Allotment date has been scheduled on 4th December 2024 while listing on BSE and NSE slated on 6th December 2024.