About Suraksha Diagnostic Limited
Incorporated in 2005, Suraksha Diagnostic Limited offers pathology, radiology testing and medical consultancy services. The company has a central reference laboratory with 8 satellite laboratories and 215 customer touchpoints, including 49 diagnostic centres and 166 sample collection centres as of June 30, 2024, across West Bengal, Bihar, Assam, and Meghalaya.
The company offers its customers online and offline medical consultation services under one roof via 44 diagnostic centres, which house 120 polyclinics with more than 750 doctors.
The operation of the diagnostic centres is supported by the technology platforms and systems that the company uses to streamline, such as its Laboratory Information Management System (“LIMS”), its fully integrated Radiology Information System (“RIS”), its Picture Archive Communication System (“PACS”) and its Enterprise Resource Planning System (“ERP”).
The company offers vaccination services and customized testing packages for disease prediction/early detection. The company uses digital pathology and artificial intelligence to generate blood tests. All radiology reporting is done through a digital platform that allows cases to be reported from all diagnostic centres, significantly reducing turnaround time.
Competitive Strengths are:
- Well-positioned diagnostics chain to capture the large growth opportunities for organized diagnostics chains in the fragmented markets for diagnostic services in eastern and northeastern India.
- Integrated diagnostics provider offering pathology and radiology testing and medical consultancy services from a single source.
- Well-invested and technologically advanced clinical infrastructure.
- Commitment to quality driving high individual consumer business share and customer retention.
- Management team with relevant industry experience.
Suraksha Diagnostic IPO Details
| IPO Date | November 29, 2024 to December 3, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹420 to ₹441 per share |
| Lot Size | 34 Shares |
| Total Issue Size | 19,189,330 shares (aggregating up to ₹846.25 Cr) |
| Offer for Sale | 19,189,330 shares of ₹2 (aggregating up to ₹846.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 52,080,758 |
Suraksha Diagnostic IPO Timeline (Tentative Schedule)
Suraksha Diagnostic IPO opens on November 29, 2024, and closes on December 3, 2024.
| IPO Open Date | Friday, November 29, 2024 |
| IPO Close Date | Tuesday, December 3, 2024 |
| Basis of Allotment | Wednesday, December 4, 2024 |
| Initiation of Refunds | Thursday, December 5, 2024 |
| Credit of Shares to Demat | Thursday, December 5, 2024 |
| Listing Date | Friday, December 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 3, 2024 |
Suraksha Diagnostic IPO Lot Size
Investors can bid for a minimum of 34 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,994 |
| Retail (Max) | 13 | 442 | ₹194,922 |
| S-HNI (Min) | 14 | 476 | ₹209,916 |
| S-HNI (Max) | 66 | 2,244 | ₹989,604 |
| B-HNI (Min) | 67 | 2,278 | ₹1,004,598 |
| Lot Size Calculator | |||
Suraksha Diagnostic IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
Suraksha Diagnostic IPO Anchor Investors Details
Suraksha Diagnostic IPO raises Rs 253.87 crore from anchor investors. Suraksha Diagnostic IPO Anchor bid date is November 28, 2024. Suraksha Diagnostic IPO Anchor Investors list
| Bid Date | November 28, 2024 |
| Shares Offered | 5,756,797 |
| Anchor Portion Size (In Cr.) | 253.87 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 3, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 4, 2025 |
Suraksha Diagnostic IPO Promoter Holding
The promoters of the company are Dr. Somnath Chatterjee, Ritu Mittal and Satish Kumar Verma.
| Share Holding Pre Issue | 61.07% |
| Share Holding Post Issue |
Suraksha Diagnostic IPO is a book built issue of Rs 846.25 crores. The issue is entirely an offer for sale of 1.92 crore shares.
Suraksha Diagnostic IPO opens for subscription on November 29, 2024 and closes on December 3, 2024. The allotment for the Suraksha Diagnostic IPO is expected to be finalized on Wednesday, December 4, 2024. Suraksha Diagnostic IPO will list on BSE, NSE with tentative listing date fixed as Friday, December 6, 2024.
Suraksha Diagnostic IPO price band is set at ₹420 to ₹441 per share. The minimum lot size for an application is 34 Shares. The minimum amount of investment required by retail investors is ₹14,994. The minimum lot size investment for sNII is 14 lots (476 shares), amounting to ₹209,916, and for bNII, it is 67 lots (2,278 shares), amounting to ₹1,004,598.
Suraksha Diagnostic Limited Financial Information (Restated Consolidated)
Suraksha Diagnostic Limited’s revenue increased by 14.75% and profit after tax (PAT) rose by 281.32% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 314.20 | 300.21 | 281.20 | 275.96 |
| Revenue | 61.85 | 222.26 | 193.69 | 225.77 |
| Profit After Tax | 7.67 | 23.13 | 6.07 | 20.82 |
| Net Worth | 187.05 | 179.41 | 155.93 | 145.84 |
| Reserves and Surplus | 176.80 | 170.88 | 147.40 | 137.31 |
| Total Borrowing | 7.57 | 8.64 | 14.01 | 19.03 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 14.09% |
| ROCE | 21.46% |
| Debt/Equity | 0.2 |
| RoNW | 14.09% |
| P/BV | 13.1 |
| PAT Margin (%) | 10.57 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.44 | |
| P/E (x) | 99.31 |
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.
Objects of the Issue (Suraksha Diagnostic IPO Objectives)
The Company will not receive any proceeds from the Offer for sale and all proceeds will go to the Selling Shareholders.
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