Suraksha Diagnostic IPO comprises a pure Offer-for-Sale of 19,189,330 equity shares worth Rs 846.25 crore (at the upper price band
Suraksha Diagnostic Ltd, a leading integrated diagnostic chain, is set to launch its Rs 846-crore Initial Public Offering (IPO) on November 29, 2024. The Kolkata-based company, known for its comprehensive pathology, radiology, and medical consultation services, operates an extensive network across eastern India and aims to list its equity shares on BSE and NSE through this public offering.
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Suraksha Diagnostic IPO Size
Price Band and IPO Details
Suraksha Diagnostic Ltd has announced a price band of Rs 420 to Rs 441 per share for its Rs 846-crore Initial Public Offering (IPO).
IPO Dates: Public subscription opens on November 29 and closes on December 3, 2024.
Anchor Investor Bidding: Scheduled for November 28, 2024.
Offer Structure
The IPO comprises a pure Offer-for-Sale (OFS) of 19,189,330 equity shares worth Rs 846.25 crore (at the upper price band).
Promoters and Shareholders Selling Stake:
Promoters: Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma.
Investors: OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal, and Santosh Kumar Kejriwal.
No fresh issue: All proceeds from the IPO will go to the selling shareholders.
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Objective of the IPO
-To list equity shares on stock exchanges.
-To facilitate the OFS by existing shareholders.
Suraksha Diagnostic IPO Market Cap
Market Capitalisation
At the upper end of the price band, the company’s market valuation stands at approximately Rs 2,300 crore.
Business Overview
Suraksha Diagnostic Ltd provides a one-stop integrated solution for pathology, radiology testing, and medical consultations.
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Network:
- Central Reference Laboratory (Flagship).
- 8 satellite laboratories.
- 194 customer touchpoints, including:
- 48 diagnostic centres.
- 146 sample collection centres (primarily franchised).Geographical Presence: Operates in West Bengal, Bihar, Assam, and Meghalaya as of March 31, 2024.Operational Performance: Conducted 5.98 million tests for 1.14 million patients in FY 2024.
IPO Allocation
- 50%: Reserved for Qualified Institutional Buyers (QIBs).
- 35%: Allocated to Retail Investors.
- 10%: Reserved for Non-Institutional Investors (NIIs).
Book-Running Lead Managers:
- ICICI Securities Ltd
- Nuvama Wealth Management Ltd
- SBI Capital Markets Ltd
Listing Date: Equity shares are expected to be listed on the BSE and NSE on December 6, 2024.
