Suraksha Diagnostic IPO 2024 News: Price, Lot Size, and GMP Analysis for Investors - Everything You Need To Know
Suraksha Diagnostic IPO 2024 News: Suraksha Diagnostic Ltd is set to launch its Initial Public Offering (IPO) on November 29, 2024, and will close on December 3, 2024. The IPO aims to raise Rs 846.25 crore through a complete offer-for-sale (OFS) of 19,189,330 equity shares. The price band has been fixed between Rs 420 to Rs 441 per share, offering an investment opportunity for retail investors and institutions alike.
Suraksha Diagnostic IPO Price and Lot Size
The price range for Suraksha Diagnostic's IPO is Rs 420 to Rs 441 per share. Retail investors can apply in multiples of 34 shares, with a minimum investment of Rs 14,994. For non-institutional investors (NIIs), the minimum lot size is 476 shares, amounting to Rs 209,916. For large NIIs, the minimum lot size is 2,278 shares, translating to Rs 10,04,598.
Suraksha Diagnostic IPO GMP Today
As of now, Suraksha Diagnostic's grey market premium (GMP) is trading at zero, meaning that shares are being offered at the issue price of Rs 441 in the unlisted market. The zero GMP indicates that the market sentiment towards this IPO is relatively subdued. However, market conditions can change rapidly, and investors should monitor the GMP closer to the listing date.
Key Investment Insights from Analysts
Analysts have varied opinions on the Suraksha Diagnostic IPO, with some recommending a "subscribe for the long term" approach. Here's a breakdown of what experts are saying:
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Axis Capital highlights the company's robust market share in the diagnostic sector, deriving 53.30% of its revenue from pathology and 46.03% from radiology services. The company has achieved a 20.83% CAGR in revenue between FY2022 and FY2024.
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SBI Securities notes that the company’s valuation at Rs 441 represents a P/E ratio of 96.1x based on FY24 figures, indicating that the IPO is priced higher relative to its earnings. However, Suraksha Diagnostic’s market share of around 1.15%-1.30% in its core region (Eastern India) gives it room for expansion into northeastern markets.
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Bajaj Broking offers a more cautious stance, suggesting that the IPO is fully priced at the upper end of the price band. Based on FY24 earnings, the P/E ratio stands at a high 99.32x, which may make it less appealing for short-term investors.
Suraksha Diagnostic's Financial Performance
For FY2024, the company reported a PAT (Profit After Tax) of Rs 23.13 crore, with an EBITDA margin of 33.66%. Suraksha Diagnostic has shown strong growth in recent years and expects the diagnostic industry to grow from Rs 860-870 billion to Rs 1,275-1,375 billion by FY2028. This represents a CAGR of 10-12%, which could drive growth for Suraksha Diagnostic in the coming years.
IPO Listing and Allotment Details
Suraksha Diagnostic shares will be listed on both the BSE and NSE on December 6, 2024. Allotment results are expected on December 4, 2024. Investors should check the allotment status to see if they have received shares at the issue price.
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