Suraksha Diagnostic's IPO Attracts Initial Interest

Suraksha Diagnostic Ltd's IPO was 25% subscribed by the second day, garnering significant attention from retail investors. The Rs 846-crore IPO is entirely an Offer for Sale, with no new shares being issued. The company provides comprehensive diagnostic services across multiple Indian states.

Suraksha Diagnostic Ltd's initial public offering drew 25% subscription by the conclusion of the second day. According to the NSE, the offer received interest for 34,00,068 shares out of the 1,34,32,533 available. Retail Individual Investors showed strong interest, subscribing to 45% of their allotted quota.

The Kolkata-based diagnostic chain has successfully mobilized Rs 254 crore from anchor investors ahead of the IPO's closure on December 3. The share price is set between Rs 420-441 each, with the entire Rs 846-crore issue comprising an Offer for Sale by current stakeholders.

Prominent shareholders include Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma, alongside investors like OrbiMed Asia II Mauritius Ltd. As the offering does not include a fresh issue, proceeds will solely benefit the selling shareholders. Suraksha Diagnostic operates a network of pathology and radiology services, reflected in its robust infrastructure across several Indian states.

(With inputs from agencies.)