Shares of Suraksha Diagnostic will be listed at the bourses on Friday. The company has fixed the IPO price at ₹441, at the upper end of the price band ₹420-441.
The company hit the capital market with an ₹846.25-crore initial public offering that was subscribed by 1.27 times. The public issue of the integrated diagnostic chain was entirely an offer for sale by the promoters and investor shareholders – OFS of 19,189,330 shares by promoters Somnath Chatterjee, Ritu Mittal and Satish Kumar Verma, and investors OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal.
Grey market premium, according to some market participants, of Suraksha Diagnostic IPO GMP is around ₹13 a share, which means a gain of about 3 per cent premium over IPO price
Ahead of the IPO, the company had raised ₹254 crore from anchor investors by allotting 57.57 lakh equity shares to 16 funds at ₹441 apiece. Among them included included Niippon India Mutual Fund, Kotak MF, Aditya Birla Sun Life MF, Quant MF and Carnelian Bharat Amritkaal Fund.
As the entire issue was an OFS, funds raised in the IPO will not go to the company.
Incorporated in 2005, Suraksha Diagnostic offers pathology, radiology testing and medical consultancy services. It has a central reference laboratory with eight satellite laboratories and 215 customer touchpoints, including 49 diagnostic centres and 166 sample collection centres as of June 30, 2024, across West Bengal, Bihar, Assam, and Meghalaya.
ICICI Securities Ltd, Nuvama Wealth Management Ltd and SBI Capital Markets Ltd were the book-running lead managers to the issue.
