Tue Dec 03 04:10:47 UTC 2024: ## Suraksha Diagnostic IPO Receives Lukewarm Reception

**Kolkata, India – December 2, 2024** – The initial public offering (IPO) of Suraksha Diagnostic Limited, aiming to raise Rs 846.25 crore, has opened to a significantly underwhelming response from investors. As of November 29th, the IPO had a subscription rate of only 0.11 times, indicating weak demand across all investor categories.

Retail investors subscribed to a mere 20% of their allocated shares, while the Qualified Institutional Buyer (QIB) category saw zero subscriptions. Non-Institutional Investors (NIIs) also showed little interest, subscribing to only 4% of their allocation.

The IPO, priced between Rs 420 and Rs 441 per share, is entirely an Offer for Sale (OFS), meaning existing shareholders, not the company itself, will receive the funds. The minimum investment for retail investors is Rs 14,994, while larger investors face significantly higher entry barriers.

The IPO’s grey market premium (GMP) currently stands at zero, suggesting an expected listing price of Rs 441 – the upper end of the price band – indicating a neutral return with no anticipated gains or losses. The IPO closes on December 3rd, with listing expected on December 6th on the BSE and NSE.

Founded in 2005, Suraksha Diagnostic offers a range of medical services across eastern India, including pathology, radiology, and consultations. The company boasts a central laboratory, eight satellite labs, and 215 customer touchpoints. Despite its extensive network, the IPO’s poor performance raises concerns about investor confidence in the company’s future prospects.

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