Suraksha Diagnostic Ltd

Suraksha Diagnostic Ltd IPO

IPO Price Range: ₹420 - 441

We offer one stop integrated solutions for pathology and radiology testing and medical consultation services including X-rays, ultrasonography, computerized tomography, magnetic resonance imaging scans and vaccinationservices through our operational network, consisting of our flagship central reference laboratory, 8 satellite laboratories (co-located with our diagnostic centers) and 215 customer touchpoints which include 49 diagnosticcentres, and 166 sample collection centres (primarily franchised), as of June 30, 2024 across the states of West Bengal, Bihar, Assam, and Meghalaya. We generate revenue primarily through sales of our diagnostic services asmentioned above.

Min Investment

₹14,994

IPO Size

₹846 Cr

IPO Status

Closed

Quantity in 1 Lot

34

Max Bid allowed

13

Listing Exchange

NSE

IPO Application Timeline of Suraksha Diagnostic Ltd

Open Date29 Nov 2024
Close Date3 Dec 2024
Allotment Date4 Dec 2024
Listing Date6 Dec 2024

IPO subscribed over

🚀 1.27x

This IPO has been subscribed by 0.95x in retail and 1.74x in QIB.

Subscription Rate

Total Subscription1.27x
Retail Individual Investors0.95x
Qualified Institutional Buyers1.74x
Non Institutional Investors1.41x

Key Statistics

Bid Opening DateBid Opening Date29 Nov 2024
Bid Closing DateBid Closing Date3 Dec 2024
Allotment DateAllotment Date4 Dec 2024
Issue SizeIssue Size₹846.25Cr
Quantity in 1 lotQuantity in 1 lot34

Strength and risks

Strength

Strength

  • Diagnostic chain with in eastern India well positioned to leverage growth opportunity for organized diagnostic chains in the diagnostic services markets in eastern and north-eastern India.

  • Track record of profitability and financial performance.

  • Integrated diagnostics provider with one-stop solution offering pathology and radiology testing, and medical consultation services.

  • Technologically advanced clinical infrastructure and trained personnel providing diagnostic services.

  • Commitment to quality driving high individual consumer business share and customer retention.

  • Management team with relevant industry experience.


Risk

Risk

  • 95.48% of its Revenue from Operations in Fiscal 2024 was generated from West Bengal, and any loss of business in such region could have an adverse effect on its business, results of operations and financial condition.

  • The securities of certain of its Promoter Group members have been suspended from trading on a recognized stock exchange in the past. The company cannot assure you that there will be no such instances in the future which may adversely affect its operations, reputation and ability to raise capital through further public issue of securities.

  • The diagnostics industry in India is highly competitive and its inability to compete effectively from other healthcare service providers may adversely affect its business, results of operations and financial condition. Further, as of Financial Year 2024, the market share of the Company in its major market which is East India is 1.15-1.30%.

  • The B2B segment contributed to 6.17% of its Revenue from Operations in Fiscal 2024 and any non-renewal or cancellation of its arrangements with its institutional customers, including hospitals, and Public-Private Partnership (PPP) contracts may adversely affect its business, results of operations and financial condition.

  • Its Statutory Auditors have included certain emphasis of matters, and audit qualifications matters prescribed in the audit reports of the Company for Fiscals 2023 and 2024.

  • In the past, the company failed to comply with certain provisions of the Companies Act, 2013, and had to compound such non-compliances. The company cannot assure you that there will be no such non-compliances in the future and that the Company, Promoters, or Directors will not be subject to any penalty or additional payment.

  • Certain of its Promoters, Directors, Subsidiaries and Group Company are in businesses similar to its and have interests in certain companies, which are in similar businesses to its, and this may result in potential conflict of interest with the company.

  • Its Promoters and certain members of the company Promoter Group pledged some of the Equity Shares held by them in favour of Vistra ITCL (India) Limited, in its capacity as debenture trustee for the benefit of the debentureholders, as security for debentures issued by its Promoter Group entity, Tinni Investments Limited, and there are disposal restrictions created on Equity Shares held by certain other shareholders. Upon creation, any invocation of such pledge could dilute the aggregate shareholding of its Promoters, and such members of the company Promoter Group, which may cause a change in control of the Company and trigger an open offer requirement under the Takeover Regulations.

  • There are outstanding legal proceedings involving the Company, Subsidiaries, Promoters, Directors and Group Companies which may adversely affect its business, financial condition and results of operations.

  • The Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will receive the entire net proceeds from the Offer for Sale.

Promoters Holding

Investors Holdings %
Somnath Chatterjee9.09%
Ritu Mittal19.99%
Satish Kumar Verma14.93%
Tinni Investment Ltd4.62%
Dneema Overseas Pvt Ltd3.21%

About Suraksha Diagnostic Ltd

OrganisationSuraksha Diagnostic Ltd
HeadquartersKolkata
IndustryHealthcare

Frequently Asked Questions

  • What is the size of the Suraksha Diagnostic Ltd IPO?

    The size of the Suraksha Diagnostic Ltd IPO is ₹846.25Cr .

  • What is 'pre-apply' for Suraksha Diagnostic Ltd IPO?

    'Pre-apply' for Suraksha Diagnostic Ltd IPO indicates your interest in the IPO before it opens for subscription. This ensures quick application when the IPO goes live.

  • When will my Suraksha Diagnostic Ltd IPO order be placed?

    Your Suraksha Diagnostic Ltd IPO order will be placed on 29 Nov 2024.

  • What are the open and close dates of the Suraksha Diagnostic Ltd IPO?

    The open and close dates of the Suraksha Diagnostic Ltd IPO are 29 Nov 2024 to 3 Dec 2024.

  • What is the lot size and minimum order quantity of the Suraksha Diagnostic Ltd IPO?

    The lot size and minimum order quantity of the Suraksha Diagnostic Ltd IPO are 34 and 34 respectively.

  • What would be the listing gains on the Suraksha Diagnostic Ltd IPO?

    The potential listing gains on the Suraksha Diagnostic Ltd IPO will depend on various market factors and cannot be predicted with certainty.