Suraksha Diagnostic Files DRHP for IPO with SEBI

Suraksha Diagnostic has submitted preliminary documents with the Securities and Exchange Board of India (SEBI) to raise money through an initial public offering (IPO). Global investment firm OrbiMed provides financial support to the company. The IPO does not involve a fresh issue component. According to DRHP, It involves an offer-for-sale (OFS) of 1.9 crore equity shares by the existing shareholders.
Suraksha Diagnostic IPO

The key promoters involved in the OFS are Ritu Mittal, Satish Kumar Verma, and Somnath Chatterjee. Each is selling 21.32 lakh equity shares. While OrbiMed Asia II Mauritius will be the largest seller in the offering by selling 1.06 crore shares. Other shareholders participating in the OFS are Santosh Kumar Kejriwal and Munna Lal Kejriwal.

Before the conversion of compulsory convertible preference shares (CCPS), Satish Kumar Verma, Late Kishan Kumar Kejriwal, OrbiMed, and Ritu Mittal held significant stakes in Suraksha Diagnostic at 19.38%, 11.15%, 19.51%, and 22.87%, respectively.

Suraksha Diagnostic Files DRHP for IPO with SEBI

The headquarters of Suraksha Diagnostic are situated in Kolkata. Along with medical consultation services, it also offers radiology and pathology testing. Metropolis Healthcare, Thyrocare Technologies, Agilus Diagnostics, and Dr. Lal Pathlabs are the companies with which it stands out. To run its operations, the company uses eight satellite laboratories, a central reference laboratory, and 194 customer touchpoints, which include 48 diagnostic centers and 146 sample collection centers spread throughout Bihar, West Bengal, Meghalaya, and Assam.

Suraksha Diagnostic reported revenue of Rs 218.7 crore and net profit of Rs 23.1 crore in the fiscal year that ended in March 2024, up from Rs 190.1 crore and Rs 6.1 crore in its prior financial year.

The book-running lead managers of this upcoming IPO are Nuvama Wealth Management, SBI Capital Markets, and ICICI Securities.

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