The public issue of Suraksha Diagnostic, an integrated diagnostic chain, to hit the capital market on Friday targeting ₹846.25 crore. The entire issue, which is an offer for sale by promoters and investor shareholders, comes out with a price band of ₹420-441. The IPO will close on on December 3.
Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. The market lot is 34 shares.
The Kolkata-headquartered company’s IPO consists of an Offer for Sale (OFS) of 19,189,330 equity shares by promoters Somnath Chatterjee, Ritu Mittal and Satish Kumar Verma; and investors OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal.
The company on Thursday raised ₹254 crore from anchor investors, as part of IPO exercise. In a disclosure to the stock exchanges, Suraksha Diagnositc said it has allotted 57.57 lakh equity shares to 16 funds at ₹441 apiece. Included among them are Nippon India Mutual Fund, Kotak MF, Aditya Birla Sun Life MF, Quant MF and Carnelian Bharat Amritkaal Fund.
Incorporated in 2005, Suraksha Diagnostic Limited offers pathology, radiology testing and medical consultancy services. The company has a central reference laboratory with 8 satellite laboratories and 215 customer touchpoints, including 49 diagnostic centres and 166 sample collection centres as of June 30, 2024, across West Bengal, Bihar, Assam, and Meghalaya.
Shares will be listed on the BSE and the National Stock Exchange.
ICICI Securities Ltd, Nuvama Wealth Management Ltd and SBI Capital Markets Ltd are the book-running lead managers to the issue. The equity shares are expected to be listed on BSE and NSE on December 6.