Suraksha Diagnostic Ltd is set to launch its initial public offering (IPO) aimed at raising approximately ₹846 crore. The IPO will open for subscription on November 29, 2024, and will remain available until December 3, 2024. This offering is significant for the company, which operates a comprehensive network of diagnostic services across several states in India.
IPO Details
- Issue Size: The company plans to issue up to 19,189,330 equity shares.
- Price Band: The shares are priced between ₹420 and ₹441 each.
- Face Value: Each share has a face value of ₹2.
- Lot Size: Investors can apply for a minimum of 34 shares, which translates to a minimum investment of approximately ₹14,994 per lot.
Subscription Breakdown
The IPO will be allocated among different investor categories:
- Qualified Institutional Buyers (QIB): 50%
- Non-Institutional Investors (NII): 15%
- Retail Investors: 35%
Key Dates
| Event | Date |
|---|---|
| IPO Opening Date | November 29, 2024 |
| IPO Closing Date | December 3, 2024 |
| Allotment Finalization Date | December 4, 2024 |
| Credit to Demat Accounts | December 5, 2024 |
| Listing on BSE & NSE | December 6, 2024 |
Financial Overview
Suraksha Diagnostic provides pathology and radiology testing services and operates an extensive network that includes:
- A central reference laboratory
- Eight satellite laboratories
- Over 215 customer touchpoints including diagnostic centres and sample collection centres across West Bengal, Bihar, Assam, and Meghalaya.
Financial Metrics
- Earnings Per Share (EPS): ₹4.43 (Basic)
- Return on Equity (ROE): 14.09%
- Return on Capital Employed (ROCE): 21.46%
- EBITDA Margin: 33.66%
- Debt to Equity Ratio: 0.20
Objectives of the IPO
The primary objective of the IPO is to facilitate an offer for sale by existing shareholders. Importantly, Suraksha Diagnostic will not receive any proceeds from this offering; instead, all funds raised will go directly to the selling shareholders.