Suraksha Diagnostic IPO fully subscribed on Day 3, QIBs, NIIs lead; check latest GMP

The Rs 846-crore Suraksha Diagnostic IPO will conclude on December 3.

Suraksha Diagnostic initial public offering (IPO) was fully subscribed at 1.27x on the final day of share sale on December 3.

The initial share sale received bids for 1.7 crore shares against 1.34 crore shares on offer.

The retail individual investors (RIIs) part fetched 94 percent subscription while the quota for non-institutional investors got subscribed 1.4 times. The QIB portion was booked  1.74 times the allotted quota.

Earlier, the integrated diagnostic chain Suraksha Diagnostic Ltd mobilised Rs 254 crore from anchor investors.

The Rs 846-crore initial share sale will conclude on December 3. The shares are available in the price range of Rs 420-441 apiece.

According to market observers, the shares of Suraksha Diagnostic are commanding a flat grey market premium in the unofficial market.

Suraksha Diagnostic IPO subscribed 25% on Day 2 led by retail segment; check GMP, other details

The shares of the company will be allotted on Wednesday, 4th December, while the listing is proposed to take place on Friday, 6th December.

The Kolkata-headquartered company's IPO consists of an offer for sale (OFS) of 19,189,330 equity shares worth Rs 846.25 crore, at the upper end of the price band, by promoters and investor shareholders, with no fresh issue component.

Suraksha Diagnostic offers a one-stop integrated solution for pathology and radiology testing and medical consultation services to its customers through its extensive operational network, consisting of a flagship central reference laboratory, eight satellite laboratories and 194 customer touchpoints which include 48 diagnostic centres, and 146 sample collection centres (primarily franchised), across West Bengal, Bihar, Assam, and Meghalaya as of March 31, 2024.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.