Wed Nov 27 07:28:10 UTC 2024: ## Suraksha Diagnostic Launches IPO at ₹420-441 per Share

**Mumbai, November 27, 2024** – Suraksha Diagnostic Limited is set to launch its initial public offering (IPO) on Friday, November 29th, with the price band fixed at ₹420 to ₹441 per share. The IPO, which closes on December 3rd, is entirely an Offer for Sale (OFS), with existing shareholders selling up to 19,189,330 equity shares. No proceeds will go to the company.

The IPO will allocate shares to anchor investors on Thursday, November 28th. Retail investors will be allocated at least 35% of the shares, while qualified institutional buyers (QIBs) will receive a maximum of 50% and non-institutional investors (NIIs) a minimum of 15%. The minimum lot size is 34 shares. The allotment is expected to be finalized on December 4th, with refunds and crediting of shares to demat accounts on December 5th. Listing on the BSE and NSE is anticipated for December 6th.

Suraksha Diagnostic operates 43 diagnostic centers and 120 polyclinics, offering over 2,300 tests across various specialties. The company, which employs over 750 doctors, also provides online and offline medical consultation services. The company’s revenue increased by 14.75% and profit after tax (PAT) by 281.32% year-on-year (FY24 vs FY23).

The lead managers for the IPO are ICICI Securities Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd, with Kfin Technologies Ltd serving as the registrar. The company’s listed peers include Dr Lal PathLabs, Metropolis Healthcare, Thyrocare, and Vijaya Diagnostic. Investors are advised to consult with financial advisors before making any investment decisions.

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