Since the issue is completely OFS, the company will not receive a profit and all the funds will go to the selling shareholders (Image: Shutterstock)
Integrated diagnostics chain Suraksha Diagnostic Ltd has received Sebi’s nod to raise funds through an initial public offering (IPO), an update by the markets regulator showed on Monday.
The Kolkata-headquartered company’s proposed IPO consists of an Offer-for-Sale (OFS) of up to 1.92 crore equity shares by promoters and investors, apart from the fresh issue component, according to the Draft Red Herring Prospectus (DRHP).
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Under the OFS, the promoters — Somnath Chatterjee, Ritu Mittal, Satish Kumar Verma and investors — OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal will issue shares.
The company, which filed initial IPO papers in July, received regulatory approval on September 30, the update showed.
In Sebi’s parlance, discovery means that the regulator moves forward to resolve the public issue.
According to the draft documents, the company will not receive any profit and all the funds will go to the selling shareholders as the issue is completely OFS.
Explaining the reason for going public, the company, in its draft documents, said that the listing is aimed at gaining the benefit of listing the shares and making OFS for the selling shareholders.
Since the issue is completely OFS, the company will not get any profit and all the funds will go to the selling shareholders.
Suraksha Diagnostic offers a one-stop solution for pathology and radiology testing and consulting services to its customers through a comprehensive operational network, including a main reference laboratory, 8 satellite laboratories and 194 customer touch points comprising 48 diagnostic centers, and 146. sample collection centers (mainly franchised), across West Bengal, Bihar, Assam and Meghalaya from March 31, 2024.
In fiscal year 2024, it performed approximately 5.98 million tests serving approximately 1.14 million patients.
ICICI Securities Ltd, Nuvama Wealth Management Ltd and SBI Capital Markets Ltd are the lead book-running managers in the issue. The shares are proposed to be listed on BSE and NSE.
(Only the headline and image for this report may have been reused by Business Standard staff; other content is automatically generated from the trade feed.)
First published: October 07 2024 | 5:52 PM IST