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Suraksha Diagnostic IPO is a book-built issue of Rs 846.25 crores. The issue is entirely an offer for the sale of 1.92 crore shares.
Suraksha Diagnostic IPO opens for subscription on November 29, 2024, and closes on December 3, 2024. The price band for the IPO is set at ₹420 to ₹441 per share and the minimum lot size for an application is 34 Shares.
Company Summary
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 centers and 166 sample collection centers 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 centers, which house 120 polyclinics with more than 750 doctors.
The operation of the diagnostic centers 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 centers, significantly reducing turnaround time.
Company Strengths
- 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.
- Integrated diagnostics provider offering pathology and radiology testing and medical consultancy services from a single source.
- Well-invested and technologically advanced clinical infrastructure.
- Commitment to quality driving high individual consumer business share and customer retention
- Management team with relevant industry experience.
Company Financials
| 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 | ||||
Objectives of the IPO
The Company will not receive any proceeds from the Offer for sale and all proceeds will go to the Selling Shareholders.
Promoters of the company
The Promoters of the Company are Dr Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma. The Promoters collectively hold 22,916,410 Equity Shares of face value ₹2 each, representing 44.02% of the pre-offer issued, subscribed, and paid-up equity share capital of the Company.
IPO details
| IPO Date | November 29, 2024 to December 3, 2024 |
| Listing Date | Friday, December 6, 2024 |
| 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 |
Lot Allocation details
| 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 |
Allotment Schedule
| Basis of Allotment | Wednesday, December 4, 2024 |
| Initiation of Refunds | Thursday, December 5, 2024 |
| The 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 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
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