Suraksha Diagnostic IPO day 2: Issue subscribed 25%, retail portion booked 0.44 times so far 

The initial public offering (IPO) of Suraksha Diagnostic was subscribed 25% on the second day of subscription today. The issue received bids for 33.21 lakh shares against an IPO size of 1.34 crore shares amounting to a subscription of 24 per cent at 4:13 pm on the second day of bidding. The IPO will close on December 3. 

The quota for retail investors was subscribed 0.44 times shares of the allotted quota, while the portion set aside for non-institutional investors was subscribed 12 percent.

The issue opened for bidding on Friday November 29. The company is offering its shares in the price band of Rs 420-441 apiece. The company will not receive any proceeds from the Offer for sale and all proceeds will go to the Selling Shareholders.

One can apply for a minimum of 34 equity shares and its multiples thereafter. Listing of the stock is likely to take place on December 6. The shares are proposed to be listed on BSE, NSE.

The IPO comprises a total issue size aggregating up to Rs 846.25 crore. 

Kfin Technologies Limited is the registrar and ICICI Securities, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the lead managers of the IPO. 

Suraksha Diagnostic raised Rs 253.87 crore from 16 institutional investors as it allocated 57,56,797 equity shares at Rs 441 apiece. Its anchor book included Carnelian Bharat Amritkaal Fund, Societe Generale, Integrated Core Strategies (Asia), Troo Capital, Tusk Investments and mutual funds like Aditya Birla Sunlife, Bandhan, JM Financial, Kotak, Mirae Asset, Nippon and Quant MF.

Suraksha Diagnostic offers 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.