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Suraksha Diagnostic Ltd IPO

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.

Suraksha Diagnostic Ltd IPO Details

Total Shares Offered

₹ 1,91,89,330

Offer to Public

1,91,89,330

Retail Max (Shares)

₹ 67,16,265

Pre Issue Promoters Holding

₹ 3,18,02,034

Exchange

BSE

Issue size

₹ 846.25 Cr

IPO Open Date

Nov 29, 2024

Close Date

Dec 3, 2024

Lot Size

Min Investment

₹ 14,280

Issue Type

Book Building

Listing Date

Dec 6, 2024

Suraksha Diagnostic Ltd IPO Dates

Nov 29, 2024

Opening date

Dec 3, 2024

Closing date

Dec 4, 2024

Basis of Allotment

Dec 5, 2024

Initiation of Refunds

Dec 5, 2024

Credit of Shares

Dec 6, 2024

Listing date

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

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

0.69x

1.41x

0.95x

0.89x

9594665

2878400

6716265

19189330

6667332

4045218

6352730

17065280

Suraksha Diagnostic Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	252.09	218.71	190.13
EBITDA	113.32	97.84	71.14
PAT	33.44	24.38	7.19
Total Assets	67.08	92.48	89.58
Share Capital	10.42	8.53	8.53
Total Borrowings	33.90	32.38	38.24
Operating Activities (Net Cash)	68.17	56.95	38.82
Investing Activities (Net Cash)	-3.10	0.14	-1.89
Financing Activities (Net Cash)	33.90	32.38	38.24
Net Cashflow	15.53	52.81	54.62

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.

Peer Comparison:

Dr Lal Pathlabs Ltd
Metropolis Healthcare Ltd
Vijaya Diagnostic Centre Ltd

Suraksha Diagnostic Ltd 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.

How To Apply for Suraksha Diagnostic Ltd IPO Online?

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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.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Suraksha Diagnostic Ltd IPO?

Suraksha Diagnostic Ltd's IPO offers shares for up to 0 It begins on Nov 29, 2024 and ends on Dec 3, 2024.

What is the price of the Suraksha Diagnostic Ltd IPO?

The price of Suraksha Diagnostic Ltd IPO ranges between ₹420 to ₹441 per share.

What are the open and close dates for the Suraksha Diagnostic Ltd IPO?

The Suraksha Diagnostic Ltd IPO opens on Nov 29, 2024 and closes on Dec 3, 2024.

When will the Suraksha Diagnostic Ltd IPO be allotted?

The allotment for the Suraksha Diagnostic Ltd IPO will be finalised on Dec 4, 2024. The shares will be listed on BSE and NSE on Dec 6, 2024.

What is the minimum lot size required for Suraksha Diagnostic Ltd IPO?

The minimum lot size for Suraksha Diagnostic Ltd IPO is 34 shares, priced between ₹420 to ₹441 per share.

What is the GMP of Suraksha Diagnostic Ltd IPO?

The GMP (Grey Market Premium) of Suraksha Diagnostic Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Suraksha Diagnostic Ltd IPO?

To check the allotment status of Suraksha Diagnostic Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Suraksha Diagnostic Ltd IPO getting listed?

The Suraksha Diagnostic Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Nov 29, 2024, and closes on Dec 3, 2024. The allotment is finalised on Dec 4, 2024.

How do you apply for the Suraksha Diagnostic Ltd IPO?

To apply for the Suraksha Diagnostic Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.