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The non-institutional investors (NIIs) subscribed to the issue 1.41 times, while retail individual investors subscribed 0.95 times. Qualified Institutional Buyers (QIBs) booked 1.74 times the portion allotted to them.
Suraksha Diagnostic IPO’s grey market premium (GMP) remains nil as of December 3, 2024.
The IPO, which kicked off for subscription on November 29, concluded today.
The company sold its shares in a fixed price band of ₹420-441 for its IPO, through which it has raised ₹846 crore.
The IPO is entirely an offer for sale (OFS), which will comprise sale of up to 19,189,330 equity shares by selling shareholders.
Since the IPO is an OFS, the entire proceeds will go to the selling shareholders.
Ahead of the IPO opening, Suraksha Diagnostic has raised ₹253.87 crore from 12 institutional investors, including, Nippon Life India, Kotak Mutal Fund, Aditya Birla Sun Life Trustee, and Quant Mutual Fund, among others.
Incorporated in 2005, Suraksha Diagnostic offers pathology, radiology testing and medical consultancy services. The company has a central reference laboratory with 8 satellite laboratories and 215 customer touchpoints, including 49 diagnostic centres and 166 sample collection centres as of June 30, 2024, across West Bengal, Bihar, Assam, and Meghalaya.
Suraksha Diagnostic plans to invest ₹70 crore every year for the next three-four years to open four-five big centres and 10-12 smaller centres every year. This would be funded from internal accruals.
In financial year 2024, Suraksha’s revenues improved to ₹219 crore as against ₹190 crore in the year-ago period. Meanwhile profit after tax grew multifold to ₹23 crore.
ICICI Securities Ltd, Nuvama Wealth Management Ltd and SBI Capital Markets Ltd are the book running lead managers to the IPO, while Kfin Technologies Ltd is the registrar.
The allotment for the Suraksha Clinic and Diagnostic IPO is expected to be finalised on December 4, while the company’s shares will list on BSE, NSE with tentative listing date fixed as December 6, 2024.
First Published: Dec 3, 2024 11:04 AM IST
