The IPO of Suraksha Diagnostic is scheduled to be launched on November 29, 2024, with a price band of ₹420 – ₹441 per share. Suraksha Diagnostics has a strong operational network and has its specialization in delivering pathology, radiology, and medical consulting services. Here is a summary of facts about the IPO and the company.
IPO Details
- Issue Dates: Starts from November 29, 2024 and ends on 3rd December, 2024
- Price Band: Between ₹420 to ₹441 per equity share
- Lot Size: 34 shares in each lot and multiples thereof
- IPO Type: Amalgam of an Offer for Sale (OFS) comprising 19.19 million equity shares by the existing shareholders. Selling shareholders receive money from the proceeds collected from sales to investors.
- Allotment Finalization: December 4, 2024
- Refund Initiation: December 5, 2024
- Listing Date: Listing of shares is to happen on December 6th, 2024, on both BSE and NSE.
Operational & Performance Highlights
The company has a central reference lab and seven subsidiary laboratories along with 215 points of direct client contact. During Q1 FY2025 it tested 1,58,000 samples for 28000 patients and 95.34% of its total revenue was from Kolkata and its periphery.
It also increases the ease of access for clients since all diagnostic services are provided under one company, Suraksha. The company earned an annual PAT of 281.32% and has shown a 14.75% increase in its total revenue during FY2023-FY2024. Listed competitors of Suraksha include Dr. Lal PathLabs (P/E: 77.08), Metropolis Healthcare P/E ratio of 89.61, Thyrocare with having P/E ratio of 65.52 and Vijaya Diagnostic having a P/E ratio of 86.40.
Also, the IPO’s grey market premium (GMP) is ₹0 as of today meaning there is no trading premium or discount in the grey market.
Manager & Registrar Details
The issue is being lead managed by ICICI Securities, Nuvama Wealth Management, and SBI capital markets while the registrar to the issue is KFin Technologies Ltd.
Disclaimer: Investors must seek the services of accredited financial advisors before making any investment decisions. It is important for readers to understand that this article is not intended as financial advice.
