Suraksha Diagnostic IPO Overview

Suraksha Diagnostic IPO is a book built issue of Rs 846.25 crores. The issue is entirely an offer for sale of 1.92 crore shares.

Suraksha Diagnostic IPO is open for subscription on November 29, 2024 and close today December 3, 2024. The allotment for the Suraksha Diagnostic IPO is expected to be finalized on Wednesday, December 4, 2024. Suraksha Diagnostic IPO will list on BSE, NSE with tentative listing date fixed as Friday, December 6, 2024.

Suraksha Diagnostic IPO price band is set at ₹420 to ₹441 per share. The minimum lot size for an application is 34 Shares. The minimum amount of investment required by retail investors is ₹14,994. The minimum lot size investment for sNII is 14 lots (476 shares), amounting to ₹209,916, and for bNII, it is 67 lots (2,278 shares), amounting to ₹1,004,598.

ICICI Securities Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book running  lead manager of the Suraksha Diagnostic IPO, while Kfin Technologies Limited is the registrar for the issue.

Refer to Suraksha Diagnostic IPO RHP for detailed information.

Suraksha Diagnostic IPO Important dates

Suraksha Diagnostic IPO opens on November 29, 2024, and closes on December 3, 2024.

IPO Open Date Friday, November 29, 2024
IPO Close Date Tuesday, December 3, 2024
Basis of Allotment Wednesday, December 4, 2024
Initiation of Refunds Thursday, December 5, 2024
Credit of Shares to Demat Thursday, December 5, 2024
Listing Date Friday, December 6, 2024
Cut-off time for UPI mandate confirmation 5 PM on December 3, 2024

Suraksha Diagnostic IPO Financial Performance

Suraksha Diagnostic Limited’s revenue increased by 14.75% and profit after tax (PAT) rose by 281.32% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended 30 Jun 2024 31 Mar 2024 31 Mar 2023 31 Mar 2022
Assets 314.20 300.21 281.20 275.96
Revenue 61.85 222.26 193.69 225.77
Profit After Tax 7.67 23.13 6.07 20.82
Net Worth 187.05 179.41 155.93 145.84
Reserves and Surplus 176.80 170.88 147.40 137.31
Total Borrowing 7.57 8.64 14.01 19.03
Amount in ₹ Crore

Suraksha Diagnostic IPO Key Performance Indicator

KPI as of March 31, 2024.

KPI Values
ROE 14.09%
ROCE 21.46%
Debt/Equity 0.2
RoNW 14.09%
P/BV 13.1
PAT Margin (%) 10.57
Pre IPO Post IPO
EPS (Rs)  4.44
P/E (x)  99.31

Note:

  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.

Suraksha Diagnostic IPO Objectives

The Company will not receive any proceeds from the Offer for sale and all proceeds will go to the Selling Shareholders.

Suraksha Diagnostic IPO Lot Size

Investors can bid for a minimum of 34 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 34 ₹14,994
Retail (Max) 13 442 ₹194,922
S-HNI (Min) 14 476 ₹209,916
S-HNI (Max) 66 2,244 ₹989,604
B-HNI (Min) 67 2,278 ₹1,004,598

Suraksha Diagnostic IPO Details

IPO Date November 29, 2024 to December 3, 2024
Listing Date [.]
Face Value ₹2 per share
Price Band ₹420 to ₹441 per share
Lot Size 34 Shares
Total Issue Size 19,189,330 shares
(aggregating up to ₹846.25 Cr)
Offer for Sale 19,189,330 shares of ₹2
(aggregating up to ₹846.25 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue 52,080,758

Suraksha Diagnostic Company Overview and Services

Incorporated in 2005, Suraksha Diagnostic Limited offers pathology, radiology testing and medical consultancy services. The company has a central reference laboratory with 8 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.

The company offers its customers online and offline medical consultation services under one roof via 44 diagnostic centres, which house 120 polyclinics with more than 750 doctors.

The operation of the diagnostic centres is supported by the technology platforms and systems that the company uses to streamline, such as its Laboratory Information Management System (“LIMS”), its fully integrated Radiology Information System (“RIS”), its Picture Archive Communication System (“PACS”) and its Enterprise Resource Planning System (“ERP”).

The company offers vaccination services and customized testing packages for disease prediction/early detection. The company uses digital pathology and artificial intelligence to generate blood tests. All radiology reporting is done through a digital platform that allows cases to be reported from all diagnostic centres, significantly reducing turnaround time.

Competitive Strengths are:

  1. Well-positioned diagnostics chain to capture the large growth opportunities for organized diagnostics chains in the fragmented markets for diagnostic services in eastern and northeastern India.
  2. Integrated diagnostics provider offering pathology and radiology testing and medical consultancy services from a single source.
  3. Well-invested and technologically advanced clinical infrastructure.
  4. Commitment to quality driving high individual consumer business share and customer retention.
  5. Management team with relevant industry experience.

Suraksha Diagnostic IPO SWOT Analysis

Strengths:

  • Strong Regional Presence: Suraksha Diagnostic has a strong presence in eastern and northeastern India, particularly in West Bengal and Odisha.
  • Integrated Services: The company offers a comprehensive range of diagnostic services, including pathology, radiology, and specialized tests.
  • Focus on Quality: Suraksha prioritizes quality and accuracy in its diagnostic services.
  • Experienced Management Team: The company is led by an experienced management team with a strong track record in the healthcare industry.

Weaknesses:

  • Regional Focus: The company’s operations are primarily concentrated in a specific geographic region, limiting its overall market reach.
  • Competition: The diagnostic services industry is highly competitive, with established players like Dr. Lal PathLabs and Metropolis Healthcare.

Opportunities:

  • Growing Healthcare Sector: The Indian healthcare sector is experiencing significant growth, driven by increasing healthcare awareness and rising disposable incomes.
  • Expansion Opportunities: Suraksha can expand its network of labs and diagnostic centers to reach a wider customer base.
  • Technological Advancements: The company can leverage advancements in diagnostic technologies to improve its service offerings and efficiency.

Threats:

  • Economic Slowdown: Economic downturns can impact healthcare spending and affect the company’s revenue.
  • Regulatory Changes: Changes in government regulations can impact the operations and profitability of the company.
  • Intense Competition: The competitive landscape in the diagnostic services industry can pose challenges to the company’s growth and profitability.

Suraksha Diagnostic IPO GMP Details

Suraksha Clinic and Diagnostic was listed on the stock exchange on 06-12-2024. The IPO was subscribed 1.27x. The last GMP for Suraksha Clinic and Diagnostic IPO was ₹13, updated on Dec 6th 2024 06:03 AM. As per the last GMP, the expected profit/loss for the IPO was 2.95%.

The issue price of Suraksha Clinic and Diagnostic IPO (SURAKSHA,544293) was ₹441.00, listed at a price of ₹438.00, which is -0.68% lower than the allotment price.

The expected IPO listing price as per grey market was ₹454, listed below GMP price and marked as negative listing for GMP.

Suraksha Clinic and Diagnostic Day-wise IPO GMP Trend

GMP Date IPO Price GMP Sub2 Sauda Rate Estimated Listing Price Last Updated
06-12-2024 Listing 441.00 ₹13  300/4200 ₹454 (2.95%) 6-Dec-2024 8:29
05-12-2024 441.00 ₹13   300/4200 ₹454 (2.95%) 5-Dec-2024 22:26
04-12-2024 Allotment 441.00 ₹11   300/4200 ₹452 (2.49%) 4-Dec-2024 22:30
03-12-2024 Close 441.00 ₹2   100/1400 ₹443 (0.45%) 3-Dec-2024 22:23
02-12-2024 441.00 ₹0  — ₹441 (0%) 2-Dec-2024 22:23
01-12-2024 441.00 ₹0  — ₹441 (0%) 1-Dec-2024 22:25
30-11-2024 441.00 ₹0  — ₹441 (0%) 30-Nov-2024 22:31
29-11-2024 Open 441.00 ₹0  — ₹441 (0%) 29-Nov-2024 22:32

What is IPO GMP?

The grey market premium (GMP) reflects the unofficial trading price of an IPO before its listing, offering insights into its potential market performance. A positive GMP indicates that the IPO may yield profits, while a negative GMP suggests a possible discount upon listing. However, it’s essential to recognize that IPO GMP can be highly volatile. Therefore, investors should not make decisions solely based on the GMP but should thoroughly assess all relevant factors before investing.

Suraksha Diagnostic IPO Subscription Status 

Suraksha Diagnostic IPO subscribed 1.20 times. The public issue subscribed 0.83 times in the retail category, 1.74 times in QIB, and 1.35 times in the NII category by December 3, 2024 .

Investor Category Subscription (times) Shares Offered* Shares bid for Total Amount (Rs Cr.)*
Anchor Investors 1 57,56,797 57,56,797 253.875
Qualified Institutions 1.74 38,37,867 66,67,332 294.029
Non-Institutional Buyers 1.35 28,78,400 38,87,186 171.425
  bNII (bids above ₹10L) 1.51 19,18,934 28,94,624 127.653
  sNII (bids below ₹10L) 1.03 9,59,466 9,92,562 43.772
Retail Investors 0.83 67,16,266 55,59,476 245.173
Total ** 1.20 1,34,32,533 1,61,13,994 710.627

Total Application : 1,46,176

Note:

  • *: “Shares Offered” and “Total Amount” are calculated based on the upper price of the issue price range.

  • **: The portion of anchor investors (or market makers) is not included in the total number of shares offered.

Date QIB NII Retail Total
Day 1
Nov 29, 2024		 0.00 0.04 0.20 0.11
Day 2
Dec 2, 2024		 0.00 0.13 0.45 0.25
Day 3
Dec 3, 2024		 1.74 1.35 0.83 1.20

Suraksha Diagnostic IPO Allotment status 

The allotment status of Suraksha Diagnostic IPO is expected to be available on December 4, 2024.

Suraksha Diagnostic IPO allotment status is not available at this time. Suraksha Diagnostic IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Suraksha Diagnostic Limited IPO allotment status.

To check Suraksha Diagnostic IPO allotment status, follow the steps below:

  1. Click on the below allotment status check button.
  2. Select Company Name.
  3. Enter your PAN Number, Application Number or DP Client ID (Anyone).
  4. Click on Search.

On securing the allotment, you will receive the credit of equivalent shares in your Demat account.

If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on 04067162222, 04079611000 or send an email with all relevant details to sdl.ipo@kfintech.com.

Suraksha Diagnostic IPOContact Details

Suraksha Diagnostic Limited
Plot No. DG-12/1
Action Area 1D, Premises No. 02-0327
New Town, Rajarhat Kolkata 700 156
Phone: 91 33 66059750
Email: investors@surakshanet.com
Website: https://www.surakshanet.com/

Disclaimer: Investing in Initial Public Offerings (IPOs) involves substantial risk, and financial returns are not guaranteed. The information provided should not be construed as financial or investment advice. Prospective investors are advised to consider their financial situation, investment objectives, and risk tolerance before participating in an IPO. It is recommended to consult with a qualified financial advisor or professional before making any investment decisions. Past performance is not indicative of future results. Investments in IPOs may be subject to market risk, including the potential loss of principal.

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