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Unlisted shares of Suraksha Diagnostic Ltd remained to trade at Rs 441 each in the grey market on Friday, which coincides as its concern rate. It indicates absolutely no GMP on its unpublished shares in the grey market.
Suraksha Diagnostic IPO.
Suraksha Diagnostic IPO GMP: The going public of Suraksha Diagnostic Ltd has actually been opened up onFriday The Rs 846.25-crore IPO will certainly be ended on Tuesday, December 3. Till 2:15 pm on the initial day of bidding process on Friday, the IPO got a 0.09 times membership gathering proposals for 1,34,32,533 shares as versus 12,14,344 shares available.
The rate band of the IPO has actually been taken care of in the variety of Rs 420 to Rs 441 each.
So much, the section for non-institutional financiers drew in 0.03 times membership, while the retail financiers group has actually brought 0.17 times membership.
Suraksha Diagnostic IPO: Key Dates
The IPO will certainly stay offered for membership in between November 29 and shut on December 3. Its part will certainly occur on December 4. Suraksha Diagnostic’s shares will certainly be detailed on both BSE and NSE on December 6.
Suraksha Diagnostic IPO GMP Today
According to market onlookers, unpublished shares of Suraksha Diagnostic Ltd remained to trade at Rs 441 each in the grey market on Friday, which coincides as its concern rate. It indicates absolutely no GMP on its unpublished shares in the grey market.
The GMP is based upon market beliefs and maintains altering. ‘Grey market premium’ suggests financiers’ preparedness to pay greater than the concern rate.
Suraksha Diagnostic IPO: Analysts’ Recommendations
Axis Capital in its IPO note saidd, “Suraksha Diagnostics is one of the most branched out in regards to pathology and radiology amongst the contrasted peers as it obtained 53.30% of its income from pathology and 46.03% from radiology for FY24.”
The company’s revenues from operations have grown at a CAGR of 20.83 per cent between FY2022-2024. For FY2024 the company reported revenues from operations at Rs 218.71 crore, with EBITDA margins of 33.66 per cent, PAT of Rs 23.13 crore. The company’s net debt to equity ratio stood at 0.20x for FY2024, it added.
SBI Securities in its IPO said, “At the upper price band of Rs 441, Suraksha Diagnostic is valued at FY24 P/E and EV/Sales multiple of 96.1x/5.1x respectively based on its post issue capital. The company is an integrated diagnostics provider offering one-stop solution for pathology & radiology testing and medical consultation services. As of FY24, Suraksha garnered a market share of nearly 1.15%-1.30% in its core eastern India market and aims to further expand its presence in the adjacent northeastern markets.”
The business’s procedures in core location, comprehensive network and credibility will certainly assist in increasing its service paired with sector development which is anticipated to expand from Rs 860-870 bn to Rs 1,275-1,375 bn by FY28, experiencing a CAGR of 10-12% in between FY24-FY28, it included.
Another broker agent company Bajaj Broking has actually approved a ‘subscribe for long term’ referral.
It claimed, “If we annualise FY25 incomes to the post-IPO totally watered down equity base, the asking rate shows a P/E of 74.87. Based on FY24 incomes, the P/E stands at 99.32, showing the IPO is totally valued. For the reported economic durations, while rub margins are not revealed in the deal file, the RoCE margins were 23.11% (FY22), 9.05% (FY23), 21.46% (FY24), and 6.32% (Q1-FY25).”
Suraksha Diagnostic IPO: More Details
The IPO comprises a complete offer-for-sale (OFS) of 19,189,330 equity shares worth Rs 846.25 crore (at the upper price band). All proceeds from the IPO will go to the selling shareholders — promoters (Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma) and investors (OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal, and Santosh Kumar Kejriwal).
The price band of the Suraksha Diagnostic IPO has been set at Rs 420 to Rs 441 per share. The minimum lot size for an application is 34 shares. The minimum amount of investment required by retail investors is Rs 14,994. The minimum lot size investment for small NII is 14 lots (476 shares), amounting to Rs 209,916, and for big NII, it is 67 lots (2,278 shares), amounting to Rs 10,04,598.
At the upper end of the price band, the company’s market valuation stands at approximately Rs 2,300 crore.
ICICI Securities Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book running lead managers of the Suraksha Diagnostic IPO, while Kfin Technologies Limited is the registrar for the issue.
