Fri Nov 29 00:42:19 UTC 2024: ## Suraksha Diagnostic IPO Opens November 29th, Aims to Raise ₹846 Crore
**New Delhi:** Suraksha Diagnostic, a healthcare and diagnostics company, is launching its Initial Public Offering (IPO) on November 29th. The IPO, which is entirely an Offer For Sale (OFS) with existing shareholders selling their stakes, will close on December 3rd, with listing on the BSE and NSE on December 6th. The company aims to raise ₹846 crore through this offering.
The price band for the IPO has been fixed at ₹420-₹441 per share. Retail investors can apply for a minimum of one lot (34 shares), requiring a minimum investment of ₹14,994 at the upper price band, and a maximum of 13 lots (₹194,922). The IPO allocation is 50% for institutional investors, 35% for retail investors, and 15% for non-institutional investors.
Suraksha Diagnostic, established in 2005, provides pathology, radiology, and medical consultancy services. In FY23-24, the company reported a revenue of ₹222.26 crore (a 14.75% increase) and a net profit of ₹23.13 crore (a 281% increase). As of June 30th, 2024, the company operated 215 customer touchpoints across India, including 49 diagnostic centers and 166 testing centers, primarily through franchises, mainly in West Bengal, Bihar, Assam, and Meghalaya. In the three months ending in 2024, the firm conducted approximately 1.58 million tests.
The grey market premium (GMP) for the Suraksha Diagnostic IPO is currently ₹0, according to IPOwatch.in, indicating shares are trading at their issue price of ₹441.
**(Disclaimer: Investment in IPOs is subject to market risks. Consult a certified investment advisor before investing.)**
First Piper 