Mon Dec 02 07:02:09 UTC 2024: ## Kolkata-Based Diagnostics Firm Suraksha Launches IPO

**Kolkata, India** – Suraksha Diagnostic, a leading pathology and radiology services provider in Eastern India, launched its initial public offering (IPO) on Friday, November 29th. The IPO, valued at ₹846.25 crore, is an offer-for-sale (OFS) of up to 191,89,330 equity shares by promoters and existing shareholders. The company itself will receive no proceeds from the sale. Shares are priced between ₹420 and ₹441, with a minimum subscription of 34 shares. The bidding period closes on December 3rd, and listing on the BSE and NSE is scheduled for December 6th.

Suraksha, founded in 2005, operates a central laboratory supported by eight satellite labs and 215 customer touchpoints across West Bengal, Bihar, Assam, and Meghalaya. The company offers a range of services, including online and offline consultations, vaccination, and customized testing packages, utilizing digital pathology and AI. Prior to the IPO, Suraksha raised ₹253.87 crore from anchor investors.

The IPO allocation is reserved 50% for Qualified Institutional Bidders (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. For the quarter ending June 30th, 2024, Suraksha reported a net profit of ₹7.67 crore on revenue of ₹61.85 crore. Fiscal year 2024 saw a net profit of ₹23.13 crore on revenue of ₹222.26 crore.

Analyst opinions on the IPO are divided. Some firms, citing the high valuation (around 99 times FY24 earnings) and competition from larger, nationally-present players like Lal PathLabs and Metropolis, recommend an “avoid” rating. Others acknowledge the high valuation but suggest a “subscribe” rating for long-term investors, citing the company’s strong regional presence and growth potential within the expanding healthcare sector. The final decision rests with individual investors considering their risk tolerance and investment horizon.

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