Suraksha Diagnostic, which is backed by global investment firm OrbiMed, has filed preliminary papers with the capital markets regulator SEBI for fund raising via an initial public offering.
The IPO comprises solely an offer-for-sale (OFS) of 1.9 crore equity shares by the existing shareholders, with no fresh issue component. Promoters Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma will be selling 21.32 lakh equity shares each via OFS, while investor OrbiMed Asia II Mauritius is going to sell 1.06 crore shares, the maximum amongst them. Munna Lal Kejriwal, and Santosh Kumar Kejriwal will be other selling shareholders.
Ritu Mittal, Satish Kumar Verma, OrbiMed, and Late Kishan Kumar Kejriwal are the largest shareholders with 22.87 percent, 19.38 percent, 19.51 percent and 11.15 percent stakes (prior to the conversion of CCPS), respectively.
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The Kolkata-based company provides pathology and radiology testing, and medical consultation services, comparing itself with Agilus Diagnostics, Dr Lal Pathlabs, Metropolis Healthcare, and Thyrocare Technologies.
With headquartered in east India, it operates business through its flagship central reference laboratory, 8 satellite laboratories and 194 customer touchpoints (including 48 diagnostic centres, and 146 sample collection centres) across West Bengal, Bihar, Assam, and Meghalaya.
In the fiscal year gone by (2024), Suraksha Diagnostic recorded net profit at Rs 23.1 crore and revenue at Rs 218.7 crore, increasing from Rs 6.1 crore and Rs 190.1 crore in previous fiscal year ended March 2023.
ICICI Securities, Nuvama Wealth Management, and SBI Capital Markets are acting as merchant bankers to the issue.
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