Suraksha Diagnostic Ltd's IPO: Key Details Unveiled

Suraksha Diagnostic Ltd, based in Kolkata, has filed for an IPO with SEBI, featuring an Offer for Sale (OFS) of up to 1.92 crore equity shares by promoters and investors. The company won't receive the proceeds as it's an OFS. Suraksha provides comprehensive diagnostic services across multiple locations.

Suraksha Diagnostic Ltd, a Kolkata-based integrated diagnostic chain, has initiated the process for an Initial Public Offering (IPO) by filing preliminary papers with capital markets regulator SEBI.

The IPO includes an Offer for Sale (OFS) of up to 1.92 crore equity shares by both promoters and investor shareholders, with no new issue component, according to the Draft Red Herring Prospectus (DRHP) filed. Prominent shareholders such as Somnath Chatterjee, Ritu Mittal, and OrbiMed Asia II Mauritius Ltd will be divesting their stakes.

Given it is a complete OFS, the funds raised will directly benefit the selling shareholders, not the company itself. Suraksha Diagnostic operates an extensive network, including a flagship central reference laboratory, satellite labs, and multiple diagnostic centers, primarily in Eastern India. In fiscal 2024, it completed nearly 5.98 million tests for 1.14 million patients. The company's shares are planned to list on BSE and NSE, with ICICI Securities Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd managing the issue.

(With inputs from agencies.)