Suraksha Diagnostic IPO: Good news is about to arrive for investors. Keep money ready in your account for Suraksha Diagnostics IPO. Integrated diagnostics chain Suraksha Diagnostics Ltd has set a price band of Rs 420 to Rs 441 per share for its Rs 846-crore initial public offering (IPO). The IPO will open for public subscription on November 29 and close on December 3. According to PTI, the bidding for anchor investors will open for one day on November 28.
These promoters will sell shares
The Kolkata-based company’s IPO will reportedly consist of an offer for sale (OFS) of 19,189,330 shares worth Rs 846.25 crore at the upper end of the price band by promoters and investor shareholders. According to the SFO, promoters Somnath Chatterjee, Ritu Mittal, Satish Kumar Verma and investors Orbimed Asia II Mauritius Limited, Munna Lal Kejriwal and Santosh Kumar Kejriwal will sell shares. Since the issue is purely OFS, the company will not receive any proceeds and all funds will go to the selling shareholders.
Listing may occur on December 6
Suraksha Diagnostics Ltd has said that the objective of going public is to benefit from listing of shares on stock exchanges and realization of OFS for the selling shareholders. The company’s market capitalization at the upper end of the price band is reportedly around Rs 2,300 crore. The stock is expected to list on BSE and NSE on December 6.
Business Overview
Suraksha Diagnostics offers integrated solutions for pathology and radiology testing as well as medical consulting services. Its extensive operational network includes a central reference laboratory, 8 satellite laboratories and 194 customer touch points, including 48 diagnostic centers and 146 franchised sample collection centers in West Bengal, Bihar, Assam and Meghalaya as on March 31, 2024.
Reserves and Issuances Manager
During FY24, the company performed approximately 5.98 million tests and served 1.14 million patients. This issue is reserved 50% for qualified institutional buyers (QIB), 35% for retail investors and 10% for non-institutional investors. ICICI Securities Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the lead book-running managers of the issue.
Also Read: Subhadra Yojana: Rs 5000 given directly to women’s bank account, apply now
