Suraksha Diagnostic IPO closes today: GMP remains flat; Should you bid?

The subscription window for the Suraksha Diagnostic IPO closes today. Check the subscription status, GMP, listing schedule, and more

Suraksha Diagnostic IPO subscription status: The initial public offering (IPO) of Suraksha Diagnostic, which opened for public subscription on Friday, November 29, 2024, is likely to close today, Tuesday, December 3, 2024. The public offering has so far received a subdued response from investors, garnering bids for 34,00,068 shares against the 1,34,32,533 shares on offer, resulting in a subscription of 0.25 times as of the second day of subscription, as per the date available on the National Stock Exchange (NSE).

 

Retail individual investors (RIIs) have shown the highest interest, subscribing to 0.45 times the quota reserved for them, followed by non-institutional investors (NIIs) at 0.13 times. Qualified institutional buyers (QIBs) have shown the least interest, placing bids for merely 1,326 shares against the 38,37,867 shares reserved for this category.

 

The IPO is available at a price band of Rs 420-421, with a lot size of 34 shares. Investors can bid for a minimum of 34 shares and in multiples thereof.

 

Meanwhile, the company's unlisted shares are trading at Rs 441, which is also the upper end of the IPO price band. As a result, the Suraksha Diagnostic IPO Grey Market Premium (GMP) remains nil as of Tuesday, December 3, 2024.

 

The basis of allotment for the Suraksha Diagnostic IPO is likely to be finalized by Wednesday, December 4, 2024. Subsequently, the company’s shares are expected to be credited to investors’ demat accounts by Thursday, December 5, 2024.

 

The shares of Suraksha Diagnostic are tentatively scheduled to debut on the stock market on Friday, December 6, 2024. The company’s shares will be listed on the BSE and NSE.

 

Should you subscribe to the Suraksha Diagnostic IPO?

 

Brokerages, including Deven Choksey Research, Swastika Investmart, and Anand Rathi Research, have shared their outlook for investors. READ MORE

 

KFin Technologies is the registrar for the public issue, while ICICI Securities, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers.

 

Suraksha Diagnostic, incorporated in 2005, offers pathology, radiology testing, and medical consultancy services across Eastern India. The company operates a central reference laboratory, eight satellite laboratories, and 215 customer touchpoints, including diagnostic centers and sample collection centers. Its services are supported by advanced technology platforms, including LIMS, RIS, PACS, and ERP systems. Suraksha Diagnostic also provides vaccination services, customized testing packages, and digital pathology using artificial intelligence.