Suraksha Diagnostic IPO: Subscription Status, GMP, Allotment, Listing Details; Is It Worth Buying?

Suraksha Diagnostic IPO: The Rs 846.25 crore IPO is open for bidding from Friday, November 29, 2024, onward. In the first half of Day 1, the IPO received tepid demand from across investor categories. The bidding for the IPO is going to end on December 3, 2024. The latest grey market premium (GMP) of the IPO hints at a subdued market listing.

Suraksha Diagnostic IPO Subscription Status:

At the time of writing, the IPO received bids of 12,19,342 equity shares, which is just 9% of the total offered size of 1,34,32,533 equity shares. Retail individual investors (RII) category subscribed 17% of the portion, being the top bidder as of now. Meanwhile, the Non-Institutional Investors (NII) bid about 3% of its reserved portion, while there was no demand from Qualified Institutional Buyers(QIBs).

Suraksha Diagnostic IPO Details:

The IPO is a 100% book building, however, an entirely offer for sale (OFS) where selling shareholders are offloading up to Rs 846.25 crore. The IPO will close on December 3. Notably, there will be no bidding on November 30 and December 1st for the IPO, due to the weekend.

The price band for the IPO is at Rs 420 to Rs 441 per share. The face value of the equity share is at Rs 2 each. The bid lot size is 34 Equity Shares and in multiples thereof. The minimum investment allowed to retail investors is Rs 2 lakh.

Book-running lead managers of the IPO are ICICI Securities Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited, while the registrar of the IPO is KFin Technologies Limited.

Suraksha Diagnostic IPO GMP Today:

As per Investor Grain, Suraksha Clinic and Diagnostic IPO's last GMP is ₹0, last updated Nov 29th 2024 11:58 AM. With the price band of 441.00, Suraksha Clinic and Diagnostic IPO's estimated listing price is ₹441 (cap price + today's GMP). The expected percentage gain/loss per share is 0.00%.

Suraksha Diagnostic IPO Allotment, Listing Date:

After the IPO, the allotment status for the IPO is likely on December 4, 2024. Further, the company will either issue refunds to ineligible shareholders or credit eligible shares to the demat account on December 5, 2024. The listing is expected to take place on December 6.

Suraksha Diagnostic IPO Subscribe Or Not?

As per brokerage Swastika, the company provides pathology and radiology testing services, with revenue largely concentrated in West Bengal. Further, its financial performance has been inconsistent, with a setback in FY23 but showing signs of recovery recently.

Swastika believes that the valuation of the company appears aggressively high. Hence it said, "Investors exploring this sector may find better opportunities among other listed players, making it advisable to avoid this IPO for now."

Suraksha Diagnostic Limited offer a one-stop integrated solution for pathology and radiology testing, and medical consultation services to its customers through its extensive operational network.