The IPO of Suraksha Diagnostics, which opened for subscription on Friday, November 29, will close today. Tuesday, December 3, is the last day for this IPO. Suraksha Diagnostics aims to raise a total of Rs 846.25 crore through this IPO. This is a mainboard IPO, which will be listed on both major Indian stock exchanges, BSE and NSE. The company has fixed a price band of Rs 420 to Rs 441 per share, with a face value of Rs 2.
Suraksha Diagnostics’ IPO is entirely Offer for Sale (OFS)-based
In this IPO, a total of 1,91,89,330 shares will be offered to the public. It’s important to note that no new shares will be issued by Suraksha Diagnostics. The entire issue is Offer for Sale (OFS), meaning the promoters of the company will be selling their existing shares. This IPO provides retail investors the opportunity to buy shares at a price band of Rs 420 to Rs 441 per share, with a face value of Rs 2. For retail investors, the minimum investment required for one lot is Rs 14,994, which includes 34 shares. Retail investors can buy a maximum of 13 lots, totalling 442 shares, at an investment of Rs 1,94,922.
Subscription Response in the First Two Days
The response to the IPO has been rather weak so far. The IPO, which opened on November 29, has received only 0.25 times the total subscription in the first two days. This indicates a low interest from investors. In particular, Qualified Institutional Buyers (QIBs) have shown no interest in subscribing to the issue, as they have not subscribed to any portion of the IPO. Non-Institutional Investors (NIIs) have subscribed to the issue 0.13 times, and retail investors have subscribed 0.45 times.
Key Dates and Listing
After the IPO closes today, the shares will be allotted to investors on December 4. Investors can expect the shares to be credited to their demat accounts on December 5. The shares of Suraksha Diagnostics will be listed on the stock exchanges (BSE and NSE) on December 6, allowing investors to start trading them in the market.