Suraksha Diagnostic Ltd's IPO Gains Momentum

Suraksha Diagnostic Ltd's IPO was subscribed 11% on the first day of its debut. While retail investors showcased a stronger interest with 20% subscription, non-institutional investors accounted for just 4%. The share sale managed to raise Rs 254 crore from anchor investors, with shares priced between Rs 420-441.

The initial public offering (IPO) of Suraksha Diagnostic Ltd saw an 11% subscription rate on its first day of listing. According to data from the National Stock Exchange, the public issue attracted bids for 14,58,872 shares against the offering of 1,34,32,533 shares.

Retail Individual Investors (RIIs) responded with a 20% subscription rate, while the non-institutional investors' category secured a modest 4%. Ahead of the IPO, the integrated diagnostic chain raised Rs 254 crore from anchor investors.

The Kolkota-based company has launched a Rs 846-crore IPO, which is set to close on December 3, with shares priced between Rs 420 and Rs 441. The offering is solely an Offer for Sale (OFS), meaning the company will not benefit from the proceeds, as all funds will go to the selling stakeholders.

(With inputs from agencies.)