Suraksha Diagnostic IPO - Day 2 Subscription at 0.18 Times

Suraksha Diagnostic's initial public offering (IPO) has received modest investor interest over the two-day period. The IPO witnessed a slow growth in demand, with subscription rates growing from 0.11 times on day one to 0.18 times by 11:11 AM on day two.

Suraksha Diagnostic IPO, which opened on 29th November 2024, has seen limited participation across categories. The Retail Investors segment has shown moderate interest, reaching 0.32 subscriptions, while Non-Institutional Investors demonstrated minimal participation at 0.08. The QIB portion remains negligible at 0.00 times.

This measured response comes amid ongoing sentiment in the Indian stock market, particularly towards companies in the diagnostic services sector.

Subscription Status of Suraksha Diagnostic IPO:

*As of 11:11 AM

Here are the subscription details for Suraksha Diagnostic IPO as of Day 2 (2nd December 2024, 11:11 AM):

Total Applications: 57,065

Key Highlights:

• Overall subscription improved marginally to 0.18 times
• Retail investors showed modest interest with 0.32 times subscription
• Non-Institutional Investors at 0.08 times subscription
• Small Non-Institutional Investors (sNII) at 0.13 times versus bNII at 0.06 times
• QIB portion remained negligible at 0.00 times
• Total bids received for 23,62,830 shares worth ₹104.200 crores
• Applications reached 57,065 on day two
• The subscription trend indicates a cautious investor approach
• Market response showing measured interest
• Suraksha Diagnostic IPO - Day 1 Subscription at 0.11 Times

Key Highlights:

• Overall, subscriptions opened at 0.11 times
• Retail investors led with 0.20 times subscription
• Non-institutional investors showed limited interest at 0.04 times
• QIB portion showed no participation
• Opening day witnessed a  modest response
• Initial momentum indicated a cautious start
• Day one subscription reflected muted interest
• The market response suggested a conservative approach
• The subscription trend indicated room for improvement

About Suraksha Diagnostic Limited

Incorporated in 2005, Suraksha Diagnostic Limited has established itself as an integrated diagnostic services provider offering pathology, radiology testing, and medical consultancy services. Operating through a network of 8 satellite laboratories and 215 customer touchpoints, including 49 diagnostic centres and 166 sample collection centres as of June 30, 2024, the company has built a strong presence across West Bengal, Bihar, Assam, and Meghalaya.

The company leverages advanced technology platforms, including Laboratory Information Management System (LIMS), Radiology Information System (RIS), and Picture Archive Communication System (PACS) to deliver efficient services. With 120 polyclinics housing over 750 doctors across 44 diagnostic centres, they provide comprehensive healthcare solutions, including vaccination services and customised testing packages. Their financial performance shows strong growth with revenue increasing by 14.75% and PAT rising by 281.32% between FY2023 and FY2024.

Their competitive strengths lie in their strategic positioning in eastern and northeastern India, integrated service offerings, advanced technological infrastructure, and commitment to quality, supported by an experienced management team. The company's focus on digital pathology and artificial intelligence demonstrates its commitment to technological advancement in diagnostic services.

Highlights of the Suraksha Diagnostic IPO

• IPO type: Book Built Issue
• IPO size: ₹846.25 crores
• Offer for Sale: 1.92 crore shares
• Face value: ₹2 per share
• Price band: ₹420 to ₹441 per share
• Lot size: 34 shares
• Minimum investment for retail investors: ₹14,994
• Minimum investment for sNII: ₹209,916 (14 lots)
• Minimum investment for bNII: ₹1,004,598 (67 lots)
• Listing at: BSE, NSE
• IPO opens: 29th November 2024
• IPO closes: 3rd December 2024
• Allotment date: 4th December 2024
• Refund initiation: 5th December 2024
• Credit of shares: 5th December 2024
• Listing date: 6th December 2024
• Lead Managers: ICICI Securities, Nuvama Wealth Management, SBI Capital Markets
• Registrar: Kfin Technologies Limited