Suraksha Diagnostic Ltd., a Kolkata-based diagnostic services provider, is to launch its initial public offering (IPO) on November 29, 2024. The IPO, closing on December 3, 2024, consists solely of an offer-for-sale (OFS) of 1.91 crore equity shares, with no fresh issue of shares. The selling shareholders include promoters Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma, each offloading 21.32 lakh shares, and investor OrbiMed Asia II Mauritius Ltd., selling 1.06 crore shares. Individual shareholders Munna Lal Kejriwal and Santosh Kumar Kejriwal will sell 7.99 lakh and 13.32 lakh shares, respectively.
| Particulars | Details |
| IPO Opening Date | November 29, 2024 |
| IPO Closing Date | December 3, 2024 |
| Listing Date | December 6, 2024 |
| IPO Type | Offer-for-Sale (OFS) |
| Total Shares Offered | 1.91 crore equity shares |
| Market Capitalization | Approx. Rs 2,300 crore (at the upper price band) |
Anchor Book & Allocation
The anchor investment round for institutional buyers is scheduled for November 28, a day before the public subscription begins. Of the total Suraksha Diagnostic IPO, 50% is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The price band and other key details will be announced on November 26, 2024.
Suraksha Diagnostic is a leading full-service diagnostic chain in eastern India, offering pathology and radiology testing services. As of March 31, 2024, its network includes a central reference laboratory, 8 satellite labs, and many more.
In FY24, the company reported revenue of Rs 219 crore, a 15% increase from Rs 190 crore in FY23, with EBITDA rising 59.5% to Rs 70 crore and margins improving to 32.03%. Net profit surged 262.6% to Rs 23.6 crore. For Q1 FY25, Suraksha posted a profit of Rs 7.94 crore on revenue of Rs 60.73 crore.
Suraksha Diagnostic competes with established players like Dr. Lal PathLabs and Metropolis Healthcare and with Suraksha Diagnostic being entirely an OFS, the proceeds will go to selling shareholders. Investors are encouraged to assess market conditions, financials, and risks carefully before making a decision.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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