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Suraksha Diagnostic IPO 2024 Live Updates: The IPO launched on November 29 aims to raise Rs 846.25 crore by selling 1.92 crore fresh shares. The IPO closes on December 3. The allotment for the IPO is expected to be finalised on December 4. The company set the price band between Rs 420 to Rs 441 per equity share.
Suraksha Diagnostic offers pathology, radiology testing and medical consultancy services. The company’s more than 90% of its revenue comes from West Bengal. ICICI Securities, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers of the IPO, while Kfin Technologies is the registrar for the issue.
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“At the upper band company is valuing at 99.3x its FY24 earnings along with being valued at 75.0x if we annualize FY25 earnings. Following the issuance of equity shares, the company’s market capitalization stands at Rs 22,967.6 million, with a market cap-to-sales ratio of 10.5 based on its FY24 earnings. We believe that the issue is richly priced and recommend “Avoid” rating to the IPO,” said Anand Rathi Reseach in an IPO note.
12:49 (IST) 29 Nov 2024 Suraksha Diagnostic IPO 2024 Live Updates: Subscription status
The IPO got subscribed to a total of 0.07 times as of 1245 IST on November 29 i.e. day 01. The retail buyers booked the issue 0.13 times during the same time period. The NIIs subscribed to the IPO 0.02 times.
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