Suraksha Diagnostic IPO opens tomorrow: Check price band, issue size, GMP

The initial public offering (IPO) of Suraksha Diagnostic Limited is set to open for bidding on Friday, November 29, 2024. The IPO aims to raise Rs 846.25 crore through an offer for sale (OFS) of 1.92 crore shares. The issue will remain open for subscription until December 3, 2024, with the listing expected on December 6, 2024, on both the BSE and NSE.
Founded in 2005, Suraksha Diagnostic Limited provides comprehensive medical services, including pathology, radiology testing, and medical consultations. The company operates a central reference laboratory, complemented by 8 satellite laboratories and 215 customer touchpoints as of June 30, 2024.
Suraksha Diagnostic has a strong presence in eastern India, covering states like West Bengal, Bihar, Assam, and Meghalaya. The company also offers online and offline medical consultations through 44 diagnostic centres housing 120 polyclinics and over 750 doctors.
Price Band: Rs 420 to Rs 441 per share
Lot Size: Minimum 34 shares per application
Retail Investment: Rs 14,994 for the minimum lot
sNII Investment: 14 lots (476 shares), amounting to Rs 209,916
bNII Investment: 67 lots (2,278 shares), amounting to Rs 1,004,598
The IPO is entirely an offer for sale (OFS), meaning the proceeds will go directly to the selling shareholders. The company will not receive any funds raised through this issue.
The IPO is being managed by ICICI Securities Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited. Kfin Technologies Limited is the registrar for the issue.
Since the IPO is an OFS, the company will not utilise the funds for operations or growth. Instead, the proceeds will benefit the existing shareholders selling their stakes.
IPO Open Date: November 29, 2024
IPO Close Date: December 3, 2024
Allotment Finalisation: December 4, 2024
Listing Date: December 6, 2024
As of November 28, 2024, the grey market premium (GMP) for Suraksha Diagnostic IPO stands at Rs 0. With a price band of Rs 441 at the upper limit, the estimated listing price is Rs 441. This suggests no premium or discount over the issue price, with an expected percentage change of 0% per share.