The diagnostic chain has set a price band of ₹420 to ₹441 per share for its ₹846.25 crore issue. Investors can bid for 34 shares in one lot and in multiples thereafter.
The IPO is entirely an offer for sale (OFS), which will comprise sale of up to 19,189,330 equity shares by selling shareholders. The promoter selling shareholders include Somnath Chatterjee, Ritu Mittal and Satish Kumar Verma. Meanwhile, OrbiMed Asia II Mauritius Limited, Munna Lal Kejriwal and Santosh Kumar Kejriwal are the investors selling shareholders.
Since the IPO is an OFS, the entire proceeds will go to the selling shareholders.
The company has reserved 50% of the IPO for qualified institutional buyers, 35% for retail investors and the remaining 15% for non-institutional investors.
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.
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.
