Keep money ready in your account for Suraksha Diagnostics IPO. Integrated diagnostic chain Suraksha Diagnostics Ltd on Tuesday set a price band of Rs 420 to Rs 441 per share for its Rs 846 crore initial public offering (IPO). Company This IPO will open for public subscription (bidding or subscription) on November 29 and will close on December 3. According to PTI news, however, bidding for anchor investors will open for one day on November 28.
These promoters will sell shares
According to the news, the IPO of the Kolkata-headquartered company will involve an offer for sale (OFS) of 19,189,330 equity shares worth Rs 846.25 crore at the upper end of the price band. Under the OFS, 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 completely OFS, the company will not receive any proceeds and all the funds will go to the selling shareholders.
Listing may happen on December 6
Suraksha Diagnostics Limited has stated that the objective behind the company going public is to list the equity shares on the stock exchanges and avail the benefits of doing OFS for the selling shareholders. According to the news, at the upper end of the price band, the market capitalization of the company is around Rs 2,300 crore. The equity shares are expected to be listed on BSE and NSE on December 6.
The company has business here
Suraksha Diagnostics provides one-stop integrated solutions for pathology and radiology testing and medical consultation services to its customers through its wide operational network, including a premier central reference in West Bengal, Bihar, Assam and Meghalaya by March 31, 2024. laboratory, 8 satellite laboratories and 194 customer touchpoints, including 48 diagnostic centers and 146 sample collection centers (primarily franchised).
35 percent is reserved for retail investors
During FY2024, it conducted around 5.98 million tests while serving around 1.14 million patients. Half of the issue has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. ICICI Securities Ltd, Nuvama Wealth Management Ltd and SBI Capital Markets Ltd are the book-running lead managers to the issue.
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