Suraksha Diagnostic IPO subscribed 1.27 times on Day 3; Check GMP, subscription status, other details

Healthcare services provider Suraksha Diagnostic Limited's initial public offering (IPO) received a positive response on the final day of the public bidding. Opened for public subscription on November 29, the IPO was subscribed 1.27 times on the final day. The investors subscribed for 1,70,65,280, compared to the 1,34,32,533 shares on offer.

The public offer is a book-built issue offering 1.92 crore shares, aiming to raise ₹846.25 crore from the public market. 

Of the three bidding segments, the Qualified Institutional Buyers (QIBs) subscribed to the IPO the most, coming in at 1.74 times compared to the shares available. The Non-Institutional Investors (NIIs) subscribed 1.41 times to the public issue. Retail investors subscribed to 95 per cent of their available shares, according to data collected from BSE.

The Suraksha Diagnostics IPO closed for public subscription on Tuesday, December 3. The company raised ₹253 crore from the anchor investors ahead of the public issue. The price band for the IPO has been fixed at ₹420 to ₹441 per share, with a lot size of 34 equity shares per lot.

Suraksha Diagnostics shares are poised to be listed on the domestic stock market on Friday, December 6. 

Suraksha Diagnostic IPO GMP

As of December 3, the grey market premium (GMP) for the Suraksha Diagnostic IPO stands at ₹2 per share. This indicates that the shares are expected to be listed at ₹443, the upper price band, with a premium of 0.45 per cent, according to data collected from Investorgain.com.

The grey market premium (GMP) is the investors' willingness to pay more for a public issue. 

Suraksha Diagnostic IPO Details 

Suraksha Diagnostic Limited is a radiology testing and medical consultancy service company. As of June 30, it had a central reference laboratory with 8 satellite laboratories and 215 customer touchpoints, including 49 diagnostic centres and 166 sample collection centres. 

The company facilities are present across West Bengal, Bihar, Assam, and Meghalaya, according to Chittorgarh data. 

ICICI Securities Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd are the book-running lead managers for the Suraksha Clinic and Diagnostic IPO. Kfin Technologies serves as the registrar for the issue.