Suraksha Diagnostic Ltd IPO
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Suraksha Diagnostic Ltd IPO Details
Details
Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
---|---|---|---|---|---|
₹ 191.89 L | ₹ 191.89 L | ₹ 67.16 L | ₹ 318.02 L | BSE | ₹ 846.25 Cr |
IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
29 Nov, 24 | 03 Dec, 24 | 34 | ₹ 14,280 | Book Building | 06 Dec, 24 |
Suraksha Diagnostic Ltd IPO Dates
Details
Sector | Type |
---|---|
Sector | Healthcare |
Sub Sector | NA |
Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
---|---|---|---|
QIB | 0.69x | 9594665 | 6667332 |
NII | 1.41x | 2878400 | 4045218 |
Retail | 0.95x | 6716265 | 6352730 |
Employee | 0x | 0 | 0 |
Total | 0.89x | 19189330 | 17065280 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Suraksha Diagnostic Ltd Financial Status
Income Statement
Balance Sheet
Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
---|---|---|---|
Revenue from operations | 218.71 | 190.13 | 223.19 |
EBITDA | 97.84 | 71.14 | 63.38 |
PAT | 24.38 | 7.19 | 23.75 |
Total Assets | 92.48 | 89.58 | 22.44 |
Share Capital | 8.53 | 8.53 | 8.53 |
Total Borrowings | 32.50 | 38.24 | 24.84 |
Operating Activities (Net Cash) | 56.95 | 38.82 | 38.84 |
Investing Activities (Net Cash) | 0.14 | -1.89 | -0.93 |
Financing Activities (Net Cash) | 32.50 | 38.24 | 24.84 |
Net Cashflow | 52.81 | 54.62 | 2.83 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Suraksha Diagnostic Ltd
Our Company was incorporated as `Suraksha Diagnostic Private Limited' as a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation dated March 15, 2005, issued by the Deputy Registrar of Companies, West Bengal at Kolkata. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed in the extra-ordinary general meeting of our Shareholders held on June 5, 2024, and consequently, the name of our Company was changed to `Suraksha Diagnostic Limited', and a fresh certificate of incorporation dated July 16, 2024, was issued by the Registrar of Companies, Central Processing Centre.
The Indian diagnostics services market, estimated to at Rs.860 to Rs.870 billion in Fiscal 2024, is projected to grow at CAGR of around 10%-12% to Rs.1,275-Rs.1,375 billion by Fiscal 2028, out of which the eastern and north-eastern India market, estimated at Rs.170-Rs.180 billion in Fiscal 2024, is projected to grow at CAGR of around 10.50%-12.50% to Rs.260-Rs.280 billion by Fiscal 2028. (Source: CRISIL Report, as replicated on page 196). Particularly, the West Bengal market, estimated at Rs.61 to Rs.63 billion in Fiscal 2024, is projected to grow at CAGR of around 10.50%-12.50% to Rs.95 to Rs.100 billion by Fiscal 2028.
We offer one stop integrated solutions for pathology and radiology testing and medical consultation services including X-rays, ultrasonography, computerized tomography, magnetic resonance imaging scans and vaccination services through our operational network, consisting of our flagship central reference laboratory, 8 satellite laboratories (co-located with our diagnostic centers) and 215 customer touchpoints which include 49 diagnostic centres, and 166 sample collection centres (primarily franchised), as of June 30, 2024 across the states of West Bengal, Bihar, Assam, and Meghalaya. We generate revenue primarily through sales of our diagnostic services as mentioned above.
Peer Comparison:
- Dr Lal Pathlabs Ltd
- Metropolis Healthcare Ltd
- Vijaya Diagnostic Centre Ltd
Suraksha Diagnostic Ltd IPO Key Points
Strengths
- Diagnostic chain with in eastern India well positioned to leverage growth opportunity for organized diagnostic chains in the diagnostic services markets in eastern and north-eastern India.
- Track record of profitability and financial performance.
- Integrated diagnostics provider with one-stop solution offering pathology and radiology testing, and medical consultation services.
- Technologically advanced clinical infrastructure and trained personnel providing diagnostic services.
- Commitment to quality driving high individual consumer business share and customer retention.
Risk
- 95.48% of its Revenue from Operations in Fiscal 2024 was generated from West Bengal, and any loss of business in such region could have an adverse effect on its business, results of operations and financial condition.
- The securities of certain of its Promoter Group members have been suspended from trading on a recognized stock exchange in the past. The company cannot assure you that there will be no such instances in the future which may adversely affect its operations, reputation and ability to raise capital through further public issue of securities.
- The diagnostics industry in India is highly competitive and its inability to compete effectively from other healthcare service providers may adversely affect its business, results of operations and financial condition. Further, as of Financial Year 2024, the market share of the Company in its major market which is East India is 1.15-1.30%.
Strategy
- Strengthen our position in our core geography i.e. Kolkata and the rest of West Bengal.
- Expand beyond our core markets in adjacent geographies of eastern and north-eastern India.
- Supplement organic growth with selective acquisitions.
- Leverage technology to elevate customer experience.
- Augmenting medical consultation services offered through polyclinic chambers at our diagnostic centres to boost our revenue.
- Diagnostic chain with in eastern India well positioned to leverage growth opportunity for organized diagnostic chains in the diagnostic services markets in eastern and north-eastern India.
- Track record of profitability and financial performance.
- Integrated diagnostics provider with one-stop solution offering pathology and radiology testing, and medical consultation services.
- Technologically advanced clinical infrastructure and trained personnel providing diagnostic services.
- Commitment to quality driving high individual consumer business share and customer retention.
How To Apply for Suraksha Diagnostic Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.