Suraksha Diagnostic IPO opens for subscription on November 29, offering shares priced between ₹420 and ₹441. The company has a robust operational network with numerous laboratories and performed 1.58 million tests recently,

Suraksha Diagnostic, the largest full-service integrated diagnostic chain in East India by operating income as of FY23, provides a one-stop solution for pathology and radiology testing, along with medical consultation services.

The top anchor investors in the IPO included Nippon India Mutual Fund, Kotak MF, Aditya Birla Sun Life MF, Quant MF and Carnelian Bharat Amritkaal Fund

The issue size of the Suraksha Diagnostic Limited IPO is Rs 846.25 crore which comprises an offer for sale (OFS) of 1.91 crore shares, with no fresh issue component.

The IPO of Suraksha Diagnostic is entirely an offer-for-sale (OFS) of up to 1,91,89,330 equity shares by its promoters and existing shareholders, amounting to Rs 846.25 crore.

While Suraksha Diagnostic's revenue growth over the past few years has remained muted, the company's margins have expanded from 28% in fiscal 2022 to 32% in fiscal 2024. The company's net profit has grown at a 5.4% compounded annual growth rate over FY22-24.

The company has set a price band of ₹420-441 per share for its IPO, where investors can bid for 34 shares in one lot and in multiples thereafter. Through this offering, the company aims to raise ₹846 crore.

Suraksha Diagnostic Ltd raises Rs 254 crore from anchor investors ahead of its IPO, which opens on November 29. The IPO comprises an OFS of 19.19 million equity shares.