Suraksha Diagnostic IPO Details: Check Issue Size, Price Band

Suraksha Diagnostic Ltd, a well-known name in the diagnostics industry, is all set to debut on the stock market with an Initial Public Offering of Rs 846 crore. The IPO is scheduled to open for subscription on November 29, 2024, and close on December 3. The IPO has already generated much buzz among investors. Suraksha Diagnostic, having a robust network in east India and with the scope of listing its shares at BSE and NSE, is known for its holistic pathology, radiology, and consultation services.

The IPO is valued between Rs 420 to Rs 441 per share, which makes it quite an attractive proposition for wide-ranging investors. The entire issue is designed as an Offer-for-Sale (OFS), where existing shareholders, comprising promoters and investors of the company such as OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal, and Santosh Kumar Kejriwal, would offer 19,189,330 equity shares. Through this, those stakeholders can liquidate their investment, while the company itself will not raise any fresh capital through the IPO.

At the upper price band, the IPO places Suraksha Diagnostic at a market valuation of about Rs 2,300 crore, which is well positioned within the diagnostics sector. Funds from this OFS will aid the company in listing its equity shares on the stock exchanges and create an exit window for existing shareholders.

Suraksha Diagnostic has made its reputation by offering end-to-end diagnostic solutions. Besides eight satellite laboratories, the mainstay Central Reference Laboratory comes through for SRL Diagnostics with the additional support of 194 customer touchpoints, among these, diagnostic centers and sample collection centers. It has its extensive base set across some of the key states which are West Bengal, Bihar, Assam, and Meghalaya. By the fiscal year 2024 close, the company had successfully run nearly six million tests on over a million patients and spoke of its great role in the healthcare structure.

The IPO also underlines the commitment of Suraksha Diagnostic to excellence in a sector that is rapidly growing. As health becomes more of a priority to the individual and to the policymakers, diagnostic services, as offered by Suraksha, are increasingly in demand. Hence, the IPO offers great promise for retail as well as institutional investors and the allotments are well-framed for various categories of investors.

ICICI Securities Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd have been appointed as the book-running lead managers for the issue to ensure that the issue reaches a large section of potential investors.  The equity shares would make their debut on December 6, 2024 (listing date), on the stock exchanges.

If you’re considering investing in the healthcare sector, Suraksha Diagnostic’s IPO could be the perfect opportunity to be part of a company that’s transforming lives across eastern India. With a reputation synonymous with trust, advanced infra, and a clear plan for growth, this was way more than just some IPO-it was an experience worth every penny to support one and only business that is fully engaged in providing health necessities where it matters the most.

Suraksha Diagnostic is not merely entering the stock market but is taking a bold step forward in its journey to deliver reliable diagnostic solutions to millions of patients. Whether you’re a seasoned investor or just starting out, this IPO offers a slice of a growing industry that truly makes a difference.

At IPO Ji, we’ll keep you updated on every detail to help you make informed decisions. Let’s grow and invest in brighter futures together!