[ad_1]
 "IPO")
As the issue is entirely an OFS, the company will not receive any proceeds and all funds will go to the selling shareholders (Photo: Shutterstock)
Integrated diagnostics chain Suraksha Diagnostic Ltd has received the nod from Sebi to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday.
The Kolkata-based company’s proposed IPO consists of an offer for sale (OFS) of up to 1.92 crore shares by promoters and investor shareholders, with no new issue element, according to the draft prospectus Red Herring (DRHP).
Click here to join us on WhatsApp
Under the OFS, promoters – Somnath Chatterjee, Ritu Mittal, Satish Kumar Verma and investors – OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal will sell their shares.
The company, which had filed preliminary IPO documents in July, obtained the regulator’s observation on September 30, according to the update.
In Sebi parlance, getting its observations means the regulator is giving the go-ahead to launch the public issue.
As per the draft documents, the company will not receive any proceeds and all funds will go to the selling shareholders as the issue is entirely an OFS.
Explaining the reason for its IPO, the company said in its draft documents that the listing aims to obtain the benefit of listing the shares on the stock exchange and carrying out OFS for the selling shareholders.
As the issue is entirely an OFS, the company will not receive any proceeds and all funds will go to the selling shareholders.
Suraksha Diagnostic offers its clients a unique integrated solution for pathology and radiology testing and medical consultation services through its extensive operational network, consisting of a flagship central reference laboratory, 8 satellite laboratories and 194 reference points. customer contact which include 48 diagnostic centers and 146 diagnostic centers. sample collection centers (mainly franchised), in West Bengal, Bihar, Assam and Meghalaya as on March 31, 2024.
In fiscal 2024, it performed approximately 5.98 million tests on approximately 1.14 million patients.
ICICI Securities Ltd, Nuvama Wealth Management Ltd and SBI Capital Markets Ltd are the lead book managers of the issue. The equity shares are proposed to be listed on the BSE and the NSE.
(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First publication: October 7, 2024 | 5:52 p.m. STI