Suraksha Diagnostics Limited, a well-known player in the medical consultancy and diagnostic services sector, launched its Initial Public Offering (IPO) last week. The IPO opened on November 29, 2024, and today, December 3, 2024, is the last day for investors to subscribe. Here’s a detailed overview of the IPO.
Key Highlights of the IPO
- Price Band: The company has set the IPO price band at ₹420 to ₹441 per share.
- Issue Size: The total size of the IPO is ₹846.25 crore.
- Type of Offer: This IPO is an Offer for Sale (OFS), meaning all the proceeds will go to the promoters selling their stake. The company will not receive any funds from this issue.
- Market Lot: Investors can apply for a minimum of 34 shares and in multiples of 34.
- Listing: The shares are expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
In the grey market, an unofficial platform where IPO shares are traded before listing, Suraksha Diagnostics shares are trading at a ₹0 GMP (Grey Market Premium) today. This indicates that there is neither a premium nor a discount on the IPO price. Investors anticipate the shares to list close to the upper limit of the price band, set at ₹441 per share.
Subscription Status So Far
As of the second day of bidding:
- The IPO was subscribed 0.25 times, meaning only 25% of the total shares were booked.
- The retail investor portion was subscribed 0.45 times, which is better than the other categories.
- The Non-Institutional Investor (NII) portion received a subscription of just 0.13 times, showing low interest from high-net-worth individuals.
The overall subscription figures indicate a tepid response so far. Investors have until the end of the day to participate.
You can apply for the Suraksha Diagnostics IPO through your demat account using any registered broker. The application process is similar to other IPOs.
The Suraksha Diagnostics IPO offers investors a chance to invest in one of India’s leading diagnostic services companies. However, the lack of grey market demand and the OFS nature of the issue might make some investors cautious. Before making a decision, it is crucial to assess the company’s financials, IPO valuation, and your investment goals.
Stay informed and consider consulting a financial advisor if you’re unsure about investing.
