Suraksha Diagnostic Ltd Gears Up for IPO with Rs 254 Crore from Anchor Investors

Suraksha Diagnostic Ltd has successfully raised Rs 254 crore from anchor investors ahead of its IPO launch for public subscription. Leading investors include Nippon India Mutual Fund and Kotak MF. This IPO, open from November 29 to December 3, comprises an Offer for Sale without any fresh issue component.

Suraksha Diagnostic Ltd has announced the successful mobilization of Rs 254 crore from anchor investors prior to its initial public offering (IPO), scheduled to begin from November 29 to December 3. This capital, raised from notable anchor investors like Nippon India Mutual Fund and Kotak MF, underscores market confidence in the company's growth prospects.

The IPO, set at a price band of Rs 420 to Rs 441 per share, involves an Offer for Sale (OFS) of 19,189,330 equity shares, aggregating to Rs 846.25 crore at the upper price band. This offering, exclusively an OFS, will not provide any proceeds to the company, as the funds will be allocated to the selling shareholders including promoters and investors.

Headquartered in Kolkata, Suraksha Diagnostic operates a comprehensive network offering pathology and radiology testing services. With a market capitalization at Rs 2,300 crore, its services span across states such as West Bengal, Bihar, Assam, and Meghalaya, potentially appealing to qualified institutional buyers as half of the issue is reserved for them.

(With inputs from agencies.)