Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Detail
November 27th, 2024
IPO
Suraksha Diagnostic Limited, a well-established diagnostics company, is set to launch its Initial Public Offering (IPO) from November 29, 2024, to December 3, 2024. This blog provides a comprehensive overview of the IPO, including its objectives, competitive strengths, and financial performance.
IPO Details
- IPO Date: November 29, 2024, to December 3, 2024
- Listing Date: December 6, 2024 (Tentative)
- Issue Type: Book Built Issue IPO
- Face Value: ₹2 per share
- Price Band: ₹420 to ₹441 per share
- Lot Size: 34 shares
- Total Issue Size: ₹846.25 Crores
- Offer for Sale: 1.92 Crore shares (₹846.25 Crores)
- Listing At: BSE, NSE
Reservation Details
- QIB Shares Offered: Not more than 50% of the net offer
- Retail Shares Offered: Not less than 35% of the net offer
- NII (HNI) Shares Offered: Not less than 15% of the net offer
IPO Timeline (Tentative)
- IPO Opens: Friday, November 29, 2024
- IPO Closes: Tuesday, December 3, 2024
- Basis of Allotment: Wednesday, December 4, 2024
- Initiation of Refunds: Thursday, December 5, 2024
- Credit of Shares to Demat: Thursday, December 5, 2024
- Listing Date: Friday, December 6, 2024
- Cut-off Time for UPI Mandate Confirmation: 5 PM, December 3, 2024
Lot Size and Investment Details
| Application |
Lots |
Shares |
Amount |
| Retail (Min) |
1 |
34 |
₹14,994 |
| Retail (Max) |
13 |
442 |
₹194,922 |
| S-HNI (Min) |
14 |
476 |
₹209,916 |
| S-HNI (Max) |
66 |
2,244 |
₹989,604 |
| B-HNI (Min) |
67 |
2,278 |
₹1,004,598 |
Company Overview
Incorporated in 2005, Suraksha Diagnostic Limited provides pathology, radiology, and medical consultancy services. The company operates a central reference laboratory, eight satellite labs, and 215 customer touchpoints, including diagnostic centers and collection centers across West Bengal, Bihar, Assam, and Meghalaya.
Key offerings include:
- Pathology and radiology testing
- Medical consultations (online and offline)
- Vaccination services
- Customized testing packages for disease prediction/early detection
Technology Integration:
The company employs advanced systems like Laboratory Information Management System (LIMS), Radiology Information System (RIS), Picture Archive Communication System (PACS), and Enterprise Resource Planning (ERP) for streamlined operations.
Competitive Strengths
- Regional Leadership: A leading diagnostics chain in the fragmented markets of Eastern and Northeastern India.
- Integrated Services: Provides pathology, radiology, and medical consultancy services under one roof.
- Technologically Advanced Infrastructure: Uses digital pathology and AI for blood tests and digital platforms for radiology reporting.
- Customer Focus: High-quality services ensure strong customer retention.
- Experienced Leadership Team: Led by a management team with relevant industry expertise.
Financial Performance
Suraksha Diagnostic Limited has demonstrated steady growth, with revenue increasing by 14.75% and profit after tax (PAT) growing by 281.32% between FY23 and FY24.
Key Financial Metrics (₹ Crores)
| Metric |
30 Jun 2024 |
31 Mar 2024 |
31 Mar 2023 |
31 Mar 2022 |
| Assets |
314.20 |
300.21 |
281.20 |
275.96 |
| Revenue |
61.85 |
222.26 |
193.69 |
225.77 |
| Profit After Tax |
7.67 |
23.13 |
6.07 |
20.82 |
| Net Worth |
187.05 |
179.41 |
155.93 |
145.84 |
| Reserves |
176.80 |
170.88 |
147.40 |
137.31 |
| Total Borrowing |
7.57 |
8.64 |
14.01 |
19.03 |
Key Performance Indicators (As of March 31, 2024)
- ROE: 14.09%
- ROCE: 21.46%
- Debt/Equity Ratio: 0.2
- PAT Margin: 10.57%
- P/BV: 13.1
Objects of the Issue
As this IPO is entirely an Offer for Sale (OFS), the company will not receive any proceeds. The funds will go to the selling shareholders.
Suraksha Diagnostic Limited's IPO offers investors an opportunity to participate in a growing diagnostics sector. With its strong presence in Eastern and Northeastern India, integrated services, and advanced technological infrastructure, the company is well-positioned for sustained growth.
