Suraksha Diagnostics IPO Subscription: Suraksha Diagnostic IPO was launched on November 29. The IPO was subscribed to the tune of 0.05 times as of 1120 IST on November 29 (Day 01). The retail investors booked the issue 9%. The IPO will be closed on December 03. The company aims to raise Rs 846.25 crore by selling 1.92 crore fresh shares. The company’s IPO price band ranged between Rs 420 to Rs 441 per equity share.
Suraksha Diagnostic IPO GMP
The stocks of Suraksha Clinics and Diagnostics were neither fetching a premium nor a discount in the grey market. This shows that the stock might list at par with the issue price or around it. The grey market is an unofficial place to trade shares ahead of listing.
Suraksha Diagnostic IPO allotment and listing
The shares are expected to be finalised on December 04 after that the refund will be initiated on December 05 along with the credit of shares in D’mat accounts on the same date. The IPO will be listed on the bourses – BSE and NSE – on December 6, as per the tentative schedule.
Suraksha Diagnostic IPO review
“If we annualize FY25 earnings to the post-IPO fully diluted equity base, the asking price reflects a P/E of 74.87. Based on FY24 earnings, the P/E stands at 99.32, indicating the IPO is fully priced,” said Bajaj Broking in an IPO note. For the reported financial periods, while PAT margins are not disclosed in the offer document, the RoCE margins were 23.11% for FY22, 9.05% for FY23, and 21.46% for FY24.
Minimum investment required
A retail application needs to apply for a minimum of one lot of 34 shares, which amounts to Rs 14,994. There are different lot sizes for small and big NIIs. A small NII needs to invest in 14 lots of 476 shares, amounting to Rs 2,09,916 while a big NII can apply for at least 67 lots of 2,278 shares, totalling Rs 10,04,598.
Lead managers of IPO
ICICI Securities, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers of the IPO, while Kfin Technologies is working as the registrar for the issue.
» Read More
