Suraksha Diagnostic's IPO Debut: A Disappointing Dip

Suraksha Diagnostic Ltd's shares debuted with a dip of nearly 1% against its issue price of Rs 441. The shares further dropped to Rs 426.65 on the BSE. The IPO, valued at Rs 846 crore, was fully subscribed, experiencing an offer for sale by promoters and investors.

Shares of Suraksha Diagnostic Ltd debuted on the stock market with a slight disappointment on Friday, listing nearly 1% below their issue price of Rs 441. The stock opened at Rs 437 on the BSE, marking a decline of 0.90%, and further slumped 3.25% to Rs 426.65.

On the NSE, the shares listed with a marginally better discount of 0.68% at Rs 438. Suraksha Diagnostic's market valuation stood at Rs 2,259 crore, despite the lackluster start. The BSE witnessed the colossal Rs 846-crore public issue being fully subscribed 1.27 times on the final day of the sale.

The IPO was priced in a range of Rs 420-441 per share. Aimed at financial restructuring, the IPO included an offer for sale of 19,189,330 equity shares by promoters and investors, with no fresh issue component. Suraksha Diagnostic provides comprehensive pathology and radiology services through an extensive network of facilities across several Indian states.

(With inputs from agencies.)