Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Detail Review –
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) is set to open for subscription from 29th Nov 2024 to 3rd Dec 2024. In this article we will analyze the financials , strengths and weaknesses of the Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO). Keep scrolling below to read more!
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Overview –
Established in 2005, Suraksha Diagnostic Limited offers pathology, radiology testing and medical consultancy services. The company has a central reference laboratory with 8 satellite laboratories and 215 customer touch points, including 49 diagnostic centres and 166 sample collection centres as of June 30, 2024, across West Bengal, Bihar, Assam, and Meghalaya.
The company offers its customers online and offline medical consultation services under one roof via 44 diagnostic centres, which house 120 polyclinics with more than 750 doctors.
The operation of the diagnostic centres is supported by the technology platforms and systems that the company uses to streamline, such as its Laboratory Information Management System (“LIMS”), its fully integrated Radiology Information System (“RIS”), its Picture Archive Communication System (“PACS”) and its Enterprise Resource Planning System (“ERP”).
The company offers vaccination services and customized testing packages for disease prediction/early detection. The company uses digital pathology and artificial intelligence to generate blood tests. All radiology reporting is done through a digital platform that allows cases to be reported from all diagnostic centres, significantly reducing turnaround time.
Competitive Strengths are:
- Well-positioned diagnostics chain to capture the large growth opportunities for organized diagnostics chains in the fragmented markets for diagnostic services in eastern and northeastern India.
- Integrated diagnostics provider offering pathology and radiology testing and medical consultancy services from a single source.
- Well-invested and technologically advanced clinical infrastructure.
- Commitment to quality driving high individual consumer business share and customer retention.
- Management team with relevant industry experience.
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Synopsis-
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) is set to be open for subscription from 29th Nov 2024 to 3rd Dec 2024, offering offer for sale of 1.92 crore shares aggregating to Rs 846.25 crores. This NSE,BSE IPO follows a Book Built Issue IPO with tentative listing date fixed as Friday, December 6, 2024.
The total issue size of this IPO amounts to Rs. 846.25 Crores. The company has allocated shares 35% to retail investors, 50% to institutional and 15% to non institutional investors.
| Particulars | Details |
| Opening Date | 29th Nov 2024 |
| Closing Date | 3rd Dec 2024 |
| Lot Size | 34 Shares |
| Face Value | Rs 2 |
| IPO Size | Rs. 846.25 Cr |
| Fresh Issue | — |
| IPO Price Range | Rs. 420 – 441 |
| Min. Investment | Rs. 14,994 |
| Offer for Sale (OFS) | Rs. 846.25 Cr |
| Employee Discount | — |
| Basis of Allotment | 4th Dec 2024 |
| Refunds | 5th Dec 2024 |
| Listing Date | 6th Dec 2024 |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Market Lot
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) minimum market lot is 34 shares with ₹14,994 application amount. The retail investors can apply up to 13 lots with 442 shares or ₹1,94,922 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 34 | ₹14,994 |
| Retail Maximum | 13 | 442 | ₹1,94,922 |
| S-HNI Minimum | 14 | 476 | ₹2,09,916 |
| S-HNI Maximum | 66 | 2,244 | ₹9,89,604 |
| B-HNI Minimum | 67 | 2,278 | ₹10,04,598 |
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Book Running Lead Managers –
ICICI Securities Limited
Nuvama Wealth Management Limited
SBI Capital Markets Limited
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Registrar to the offer –
The registrar for the Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) is Kfin Technologies Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
The Objective Of The Issue –
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
- The Company will not receive any proceeds from the Offer for sale and all proceeds will go to the Selling Shareholders.
Key Performance Indicator –
KPI as of March 31, 2024.
| KPI | Values |
| ROE: | 14.09% |
| ROCE: | 21.46% |
| EBITDA Margin: | 33.66% |
| PAT Margin: | 10.57% |
| Debt to equity ratio: | 0.20 |
| Earning Per Share (EPS): | ₹4.43 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 14.09% |
| Net Asset Value (NAV): | ₹33.66 |
Financial Status –
Suraksha Diagnostic Limited’s revenue increased by 14.75% and profit after tax (PAT) rose by 281.32% between the financial year ending with March 31, 2024 and March 31, 2023.
Below is the synopsis of the company’s financial data for the financial year that concluded on 30 June 2024.
The company’s total assets are Rs. 314.20 crore.
The company’s total revenue is Rs. 61.85 crore.
The company’s PAT is Rs. 7.67 crore.
The company’s net worth is Rs. 187.05 crore
| Period Ended | 30 June 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Total Assets | 314.20 | 300.21 | 281.20 | 275.96 | ||||||||||||||||||||||||||||||||||||
| Revenue from operations | 61.85 | 222.26 | 193.69 | 225.77 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 7.67 | 23.13 | 6.07 | 20.82 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 187.05 | 179.41 | 155.93 | 145.84 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 176.80 | 170.88 | 147.40 | 137.31 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 7.50 | 8.64 | 14.01 | 19.03 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Evaluation of P/E Ratio :
Considering the FY ended 31 Mar 2024 with an EPS of Rs.4.43 from the last year, the resulting P/E ratio is 99.54x. Considering the weighted EPS of Rs.3.27 for the last three years, the P/E ratio is 134.86x.
Comparative Analysis with Listed Peers
The average P/E Ratio of the industry is 79.65x.
Peers of Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) –
| Company Name | EPS | NAV | P/E (x) | RoNW (%) | P/BV Ratio | Income | Financial statements |
|---|---|---|---|---|---|---|---|
| Suraksha Diagnostic Limited | 4.43 | 33.66 | 14.09 | Consolidated | |||
| Dr Lalchandani Labs Ltd | 43.05 | 221.47 | 77.08 | 20.35 | 0.07 | 2226.60 Cr | |
| Metropolis Healthcare Ltd | 24.95 | 213.98 | 89.61 | 12.26 | 8.05 | 1207.71 Cr | |
| Thyrocare Technologies Ltd | 13.42 | 99.48 | 65.52 | 13.34 | 5.93 | 571.88 Cr | |
| Vijaya Diagnostic Centre Limited | 11.62 | 64.21 | 86.40 | 19.77 | 9.91 | 547.81 Cr |
Dividend Policy
The company has not paid any dividends in the last three fiscals.
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Strengths –
Deep internal diagnostics pipeline absorbing the sizable opportunities generated by organized diagnostic chains in fragmented diagnostic services markets of East and Northeast India.
The integrated diagnostic service offers pathology plus radiology tests and medical consultant services all from one source.
Fully technologically invested in the clinical infrastructure.
Top-notch quality that drives up individual consumer business share and high retention.
Management with relevant industry experience.
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Weakness –
Suraksha Clinic and Diagnostic in its RHP mentioned that 95.48% of its revenue from operations in FY24 came from West Bengal. Any impairment of this revenue would be detrimental to the business. The company added that any contraction in business in the region would be detrimental to its business.
The company faces competition in India, and the inability to compete with other players in healthcare services may hurt its business.
The company is subject to legal liabilities, operational liabilities, reputational liabilities, medical and legal claims, regulatory actions, and all other possible liabilities arising out of healthcare services. It could also become liable for claims of malpractice and medical negligence.
It carries out its business with the reliance on information technology systems and third-party platforms and any disruption on the side of third-party platforms may have adverse consequences on their business.
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) Status –
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) allotment status will be available on the KFin Technologies Limited website. Click on this link to get allotment status.
Suraksha Diagnostic Limited IPO (Suraksha Diagnostic IPO) GMP Today –
IPO’s last GMP is ₹0, last updated 27th Nov 2024. With the price band of 441.00, IPO’s estimated listing price is ₹441(cap price + today’s GMP). The expected percentage gain/loss per share is 0.00%.
Note : The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates, nor do we recommend trading in grey market.
Disclaimer:
- IPO Grey Market Premium (Suraksha Diagnostic Limited GMP) mention is valid for the specific date as mentioned in the header.
- We are not buying and selling IPO forms on IPO Grey Market.
- Don’t decide to subscribe to an IPO just based on the initial price, as it can change before the listing.Subscribe only considering Fundamentals of the companies.
Conclusion –
Hope the details presented in this blog will assist you in learning about the financial performance of the company. Before making an investment in the company’s upcoming initial public offering (IPO), thoroughly research the company, its finances, business prospects, and market trends.
Also, investors should consult their financial advisor, conduct further due diligence, analyze industry trends and the competitive landscape, and consider risk factors before making an investment decision.
For all such latest information on upcoming IPOs, keep visiting our website.
