Suraksha Diagnostics IPO: Check latest GMP, subscription data, other details ahead of Day 2 | Stock Market News
Source: Live Mint
The Kolkata-based radiology testing and medical consultancy service firm Suraksha Diagnostic’s initial public offering (IPO) received a flat response on the first day of public bidding. The public issue was subscribed 11 per cent of the total shares on offer as of Friday, November 29.
Suraksha Diagnostic IPO latest GMP
As of December 1, the grey market premium (GMP) for the Suraksha Diagnostic IPO stands at ₹0 or nil per share. At the upper price band of ₹441 per equity share, the shares are expected to be listed at ₹441, without a premium or a loss percentage, according to data collected from Investorgain.com.
Grey Market Premium (GMP) is the investor’s willingness to pay more for a public issue.
Suraksha Diagnostic IPO subscription data
On the first day, the investors subscribed for 14,62,612 or 14.62 lakh shares, compared to the 1,34,32,533 or 1.34 crore shares on offer.
According to BSE IPO subscription data, Suraksha Diagnostic’s public issue was subscribed the most by the retail investor segment, coming in at 20 per cent booked, compared to the total shares on offer for the segment. The Non-Institutional Investors (NIIs) followed the retail lead, coming in at 4 per cent subscription compared to the shares offered. The Qualified Institutional Buyers (QIB) portion was not subscribed on the first day.
Suraksha Diagnostic IPO details
The Suraksha Diagnostic IPO is set to open on Monday, December 2, for its second day of public bidding. The issue will close for public subscription on Tuesday, December 3, and the shares are expected to be listed on the stock market on Friday, December 6.
The company is offering an offer-for-sale (OFS) component book-built issue of 1.92 crore shares, aiming to raise ₹846.25 crore.
“The diagnostic sector in which the company operates is highly competitive. Moreover, the company’s operations are confined to the eastern part of India, limiting the scope of its market. We believe that the issue is richly priced and recommend ‘Avoid’ rating to the IPO,” said Anand Rathi Research Team in a research report for the public offer.
The company aims to enhance its presence in its operating regions, focusing on Kolkata, as per the report.
ICICI Securities Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd are the book-running lead managers for the Suraksha Clinic and Diagnostic IPO. Kfin Technologies serves as the registrar for the issue.
