Suraksha Diagnostic IPO fully subscribed on last day of share sale

New Delhi, Dec 3 (PTI) The initial public offer of Suraksha Diagnostic Ltd got fully subscribed on the last day of share sale on Tuesday.
     The Rs 846-crore initial share sale received bids for 1,70,08,534 shares against 1,34,32,533 shares on offer, translating into 1.27 times subscription, according to data available with the NSE.
     The portion for Qualified Institutional Buyers (QIBs) attracted 1.74 times subscription while the category for non-institutional investors got subscribed 1.40 times. The quota for Retail Individual Investors (RIIs) received 94 per cent subscription.
     Integrated diagnostic chain Suraksha Diagnostic Ltd on Thursday said it has mobilised Rs 254 crore from anchor investors.
     The Initial Public Offering (IPO) has a price range of Rs 420-441 apiece.
     The Kolkata-headquartered company's IPO consists of an offer for sale (OFS) of 19,189,330 equity shares worth Rs 846.25 crore, at the upper end of the price band, by promoters and investor shareholders, with no fresh issue component.
     Since the issue is completely an OFS, the company will not receive any proceeds and all the funds will go to the selling shareholders.
     Suraksha Diagnostic offers a one-stop integrated solution for pathology and radiology testing and medical consultation services to its customers through its extensive operational network, consisting of 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.
     ICICI Securities Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd are the book-running lead managers to the issue.

(This story has not been edited by THE WEEK and is auto-generated from PTI)