Suraksha Diagnostic Limited: IPO to open on Friday, November 29, 2024

• Price Band fixed at ₹ 420 per equity share to ₹ 441 per equity share of the face value of ₹2 each (“Equity Shares”) of Suraksha Diagnostic Limited (the “Company”)
• Anchor Investor Bidding Date – Thursday, November 28, 2024
• Bid /Offer Opening Date – Friday, November 29, 2024, and Bid/ Offer Closing Date – Tuesday, December 3, 2024
• Bids can be made for a minimum of 34 Equity Shares and in multiples of 34 Equity Shares thereafter
• Red Herring Prospectus dated November 25, 2024 (“RHP”) link:

https://www.surakshanet.com/pdf/investor/Suraksha%20Diagnostic%20Limited-%20Red%20Herring%20Prospectus%2025-11-2024.pdf

Ahmedabad, November 27, 2024: Suraksha Diagnostic Limited (the “Company”) proposes to open an initial public offering of Equity Shares (“Offer”) on Friday, November 29, 2024. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Thursday, November 28, 2024. The Bid/ Offer Closing Date is Tuesday, December 3, 2024.

 The Price Band of the Offer has been fixed from ₹ 420 per Equity Share to ₹ 441 per Equity Share. Bids can be made for a minimum of 34 Equity Shares and multiples of 34 Equity Shares thereafter.

The Initial Public Offering is an Offer For Sale of up to 19,189,330 Equity Shares (“Offered Shares”), comprising up to 2,132,148 Equity Shares by Dr. Somnath Chatterjee, up to 2,132,148 Equity Shares by Ritu Mittal, up to 2,132,148 Equity Shares by Satish Kumar Verma (whose shares are jointly held with Suman Verma) (together with Dr. Somnath Chatterjee and Ritu Mittal, the “Promoter Selling Shareholders”), up to 10,660,737 Equity Shares by Orbimed Asia II Mauritius Limited (the “Investor Selling Shareholder”), up to 799,556 Equity Shares by Munna Lal Kejriwal, and up to 1,332,593 Equity Shares by Santosh Kumar Kejriwal (together the “Individual Selling Shareholders”) (The Promoter Selling Shareholders, The Investor Selling Shareholder and the Individual Selling Shareholders, Collectively Referred to as the “Selling Shareholders”).

The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company may in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”). One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB Portion”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds. Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

One-third of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ₹ 0.20 million and up to ₹ 1.00 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ₹1.00 million provided that under-subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Non-Institutional Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.

Explaining the reason for going public, the company said it is aimed at achieving the benefit of listing equity shares on the stock exchanges and carrying out OFS for the selling shareholders.

At the upper-end of the price band, the company’s market capitalisation stands at around Rs 2,300 crore.

Suraksha Diagnostic offers a one-stop integrated solution for pathology and radiology testing and medical consultation services to its customers through its extensive operational network, consisting of a flagship central reference laboratory, 8 satellite laboratories and 194 customer touchpoints which include 48 diagnostic centres, and 146 sample collection centres (primarily franchised), across West Bengal, Bihar, Assam and Meghalaya as of March 31, 2024.

During fiscal 2024, it conducted about 5.98 million tests serving approximately 1.14 million patients.

All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Equity Shares of the Company are proposed to be listed on BSE Limited (“BSE“) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”).

ICICI Securities Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the Book Running Lead Managers (“BRLMs”) to the Offer.

Disclaimer: SURAKSHA DIAGNOSTIC LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the RHP with the RoC on November 25, 2024. The RHP shall be available on the website of SEBI at www.sebi.gov.in, on the websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, on the website of the Company at www.surakshanet.com/investor-relations and the websites of the Book Running Lead Managers (“BRLMs”), i.e. ICICI Securities Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited at www.icicisecurities.com, www.nuvama.com and www.sbicaps.com, respectively. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled ‘Risk Factors’ on page 36 of the RHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision.