New Delhi: Integrated diagnostics chain Suraksha Diagnostics Ltd on Thursday said it has raised Rs 254 crore from anchor investors, a day ahead of the launch of its initial share sale for public subscription. According to a circular uploaded on the BSE website, top anchor investors in the IPO included Nippon India Mutual Fund, Kotak MF, Aditya Birla Sun Life MF, Quant MF and Carnelian Bharat Amritkaal Fund.
The company has allotted 57.57 lakh equity shares to 16 funds at Rs 441, which is also the upper end of the price band. This takes the transaction volume to Rs 254 crore, the circular showed.
The initial share sale of Rs 846 crore will open for public subscription on November 29 and close on December 3.
The Kolkata-headquartered company’s IPO consists of an offer for sale (OFS) of 19,189,330 equity shares valued at Rs 846.25 crore, from promoters and investor shareholders, with no fresh issue.
Under OFS, promoters Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma; And investors OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal will offload shares.
As the issue is purely an OFS, the company will not receive any proceeds and all the funds will go to the selling shareholders.
Explaining the reason for going public, the company said its objective was to list equity shares on the stock exchange and gain the benefit of executing the OFS for the selling shareholders.
At the upper end of the price band, the company has a market capitalization of around Rs 2,300 crore.
Takhuz Diagnostics offers its customers a one-stop integrated solution for pathology and radiology testing and clinical consultation services through its extensive operational network, which includes a flagship central reference laboratory, 8 satellite laboratories and 194 customer touch points. including 48 diagnostic centers, and 146 Specimen collection centers (mainly franchised) across West Bengal, Bihar, Assam and Meghalaya till 31 March 2024.
During FY 2024, it conducted about 5.98 million tests, serving about 1.14 million patients.
Half of the issue size is earmarked for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors.
ICICI Securities Ltd, Nuvama Wealth Management Ltd and SBI Capital Markets Ltd are the lead book-running managers for the issue. The equity shares are expected to be listed on BSE and NSE on December 6.