Suraksha Diagnostic Share Price Sees 1.08% Drop After IPO Listing on December 6, 2024

Suraksha Diagnostic Limited, healthcare service provider, made its stock market debut on December 6, 2024. The company’s IPO opened for subscription on November 29, 2024, and closed on December 3, 2024. The shares were listed on Friday, December 6, 2024, on BSE and NSE.

Suraksha Diagnostic IPO was a book-built issue of ₹846.25 crore. The issue was entirely an offer for sale of 1.92 crore shares. The price band of the IPO is set at ₹420 to ₹441 per share.

On December 3, 2024, the last day, Suraksha Diagnostic IPO was subscribed 1.27 times. The public issue subscribed 0.94 times in the retail category, 1.74 times in QIB, and 1.40 times in the NII category.

On the listing day, December 6, 2024, Suraksha Diagnostic share price opened at ₹438.00, slightly down from its issue price of ₹441. The share price touched its day’s high at ₹449.00.

On December 9, 2024, Suraksha Diagnostic share price opened at ₹412.00, down from its previous close of ₹417.25. At 10:41 AM, the share price of Suraksha Diagnostic was trading at ₹412.75, down by 1.08% on the NSE.

About Suraksha Diagnostic Limited

Suraksha Diagnostic provides a wide range of pathology and radiology testing services. The company also offers medical consultations, through its huge network. As of June 30, 2024, the network includes 8 satellite laboratories located within diagnostic centres, a flagship central reference laboratory, and 215 customer touchpoints. These touchpoints contain 49 diagnostic centres and 166 sample collection centres, mainly franchised, spread across Bihar, West Bengal, Assam, and Meghalaya.

In the three-month period ending June 30, 2024, the company conducted ~1.58 million tests, catering to around 0.28 million patients, with 95.34% of its operational revenue derived from Kolkata and the rest of West Bengal. For FY 2024, Suraksha Diagnostic performed ~5.98 million tests, serving 1.14 million patients, with 95.48% of its revenue also generated from its core market of Kolkata and West Bengal.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.