Private Equity

Liquidity Events

Suraksha Diagnostic’s Rs.846-Cr IPO gets 1.27x subscription

MoneyControl  

Kolkata-headquartered integrated diagnostic centres chain Suraksha Diagnostic’s initial public offering (IPO) was subscribed at 1.27x on the final day of share sale. The share sale received bids for 1.7 crore shares against 1.34 crore shares on offer. The retail individual investors (RIIs) part fetched 94% subscription while the quota for non-institutional investors (NIIs) got subscribed 1.4 times. The qualified institutional buyers (QIBs) portion was booked 1.74 times the allotted quota.Earlier, Suraksha Diagnostic mobilised INR 254 crore from anchor investors.The company's IPO consists of an offer for sale (OFS) of 19,189,330 equity shares worth INR 846.25 crore, at the upper end of the price band, by promoters and investor shareholders, with no fresh issue component.Suraksha offers an integrated solution for pathology and radiology testing and medical consultation services to its customers through 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.

In Nov 2016, Suraksha Diagnostic had raised about USD 30 M from OrbiMed.For FY23, Suraksha Diagnostic had reported about INR 190.66 Cr in Operating Income and about INR 10.27 Cr in PAT.