Latest News | Suraksha Diagnostic IPO Subscribed 25 Pc on Day Two of Offer

New Delhi, Dec 2 (PTI) The initial public offering (IPO) of Suraksha Diagnostic Ltd got subscribed 25 per cent on the day two of share sale on Monday.

The initial share sale received bids for 34,00,068 shares against 1,34,32,533 shares on offer, as per NSE data.

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The Retail Individual Investors (RIIs) part fetched 45 per cent subscription while the quota for non-institutional investors got subscribed 13 per cent.

Integrated diagnostic chain Suraksha Diagnostic Ltd on Thursday said it has mobilised Rs 254 crore from anchor investors.

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The Rs 846-crore initial share sale will conclude on December 3. The shares are available in the price range of Rs 420-441 apiece.

The Kolkata-headquartered company's IPO consists of an offer for sale (OFS) of 19,189,330 equity shares worth Rs 846.25 crore, at the upper end of the price band, by promoters and investor shareholders, with no fresh issue component.

Under the OFS, promoters Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma; and investors OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal, and Santosh Kumar Kejriwal will offload shares.

Since the issue is completely an OFS, the company will not receive any proceeds and all the funds will go to the selling shareholders.

Suraksha Diagnostic offers a one-stop integrated solution for pathology and radiology testing and medical consultation services to its customers through its extensive operational network, consisting of a flagship central reference laboratory, eight satellite laboratories and 194 customer touchpoints which include 48 diagnostic centres, and 146 sample collection centres (primarily franchised), across West Bengal, Bihar, Assam, and Meghalaya as of March 31, 2024.

ICICI Securities Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd are the book-running lead managers to the issue.

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