It’s day 3 of the Suraksha Diagnostics IPO. While the subscription was relatively muted on the first 2 days of issue, qualitative institutional investors finally jumped in. The IPO was fully subscribed on day 03 helped by the QIBs subscribing it 1.52 times as of 15:00 IST on December 03. The retail section saw a 0.75 times subscription while the NIIs booked it 0.88 times.
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Suraksha Clinic and Diagnostic IPO GMP
The shares of Suraksha Clinic and Diagnostics were not attracting any premium or discount at the grey market. This suggests that the stock could debut on the exchanges at the same price as the issue price. Shares change hands in the grey market illegally ahead of listing.
Suraksha Clinic and Diagnostic IPO allotment and listing
The allotment for the shares of Suraksha Clinic and Diagnostic IPO is anticipated to be on December 4. While the listing on the NSE and BSE is expected to occur on December 6, as per the tentative schedule.
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Minimum investment required
A retail buyer can apply for as minimum as one lot that contains 34 shares, amounting to Rs 14,994. There are different minimum requirements for small and big NIIs. A small needs a minimum investment of Rs 2,09,916 while a big NII needs Rs 10,04,598.
About Suraksha Clinic and Diagnostic
“If we annualize FY25 earnings to the post-IPO fully diluted equity base, the asking price reflects a P/E of 74.87. Based on FY24 earnings, the P/E stands at 99.32, indicating the IPO is fully priced,” said Bajaj Broking in an IPO note.
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BRLMs and registrar
ICICI Securities, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers of the IPO, while Kfin Technologies is handling the work of the registrar for the issue.
