Investors in all categories responded ambivalently to the Suraksha Diagnostic IPO on Monday, December 2, the second day of bidding. Only 20 per cent of the mainboard issue has been booked thus far.
Out of the 1.34 crore shares available, investors from all categories applied for over 26.32 lakh shares.
Subscripition across categories
Qualified institutional buyers (QIBs) have not yet submitted a bid for the diagnostics service providers’ public offering. For this category, the company has set aside 38.37 lakh shares.
In the category of retail individual investors, 35 per cent of the mainboard issue was booked. Against the 67.16 lakh shares available, bids for 23.78 lakh shares were received by the retail segment.
Only 9 per cent of the quota was booked by non-institutional investors, who applied for 2.52 lakh shares out of the 28.78 lakh shares set aside for the category.
IPO size and structure
The goal of the Suraksha Diagnostic IPO is to raise Rs 846.25 crore. There is only a 1.92 crore share offer-for-sale (OFS) in the mainboard issue.
Price band and minimum bid
The price range per share was set at Rs 420 to Rs 441. In order to participate in the Suraksha Diagnostic IPO, retail investors must bid for a minimum of 34 shares in a single lot, totaling Rs 14,994 in investment.
To participate in the issue, small non-institutional investors (sNIIs) must bid for at least 14 lots, containing 476 shares, totaling Rs 2,09,916. A minimum investment of Rs 10,04,598 is required for Big NIIs (bNIIs) to bid on 67 lots, comprising of 2,278 shares.
IPO subscription and listing date
The closing date of the Suraksha Diagnostic IPO bidding window is set for Tuesday, December 3. On Wednesday, December 4, the Suraksha Diagnostic IPO’s share allocation status is probably going to be finalized.
On Thursday, December 5, refunds for unsuccessful bidders will begin once the public issue’s share allocation status is finalized. On Thursday, shares of Suraksha Diagnostic will also be deposited into the demat accounts of the successful bidders. The NSE and BSE will list shares of Suraksha Diagnostics. December 6 has been set as the provisional date for the IPO listing.
Company financial
Suraksha Diagnostic’s revenue for the fiscal year that ended on March 31, 2024, was Rs 222.26 crore, up more than 14 per cent from the previous fiscal year’s Rs 193.69 crore.
The company’s net profit increased from Rs 6.07 crore in FY23 to Rs 23.13 crore in FY24, a 281 per cent increase. From Rs 155.93 crore in the previous fiscal year to Rs 179.41 crore, the company’s net worth increased by more than 15 per cent.
