Suraksha Diagnostic IPO Highlights
| Section | Parameter | Details |
|---|---|---|
| Important Dates | IPO Opening Date | November 29, 2024 |
| IPO Closing Date | December 3, 2024 | |
| Pricing | IPO Price | ₹420 to ₹441 per equity share |
| Face Value of Share | ₹2 each | |
| Offer Details | Total Offer Size | 19,189,330 equity shares, amounting up to ₹846.25 crores |
| Fresh Issue | N/A (entirely Offer for Sale) | |
| Offer for Sale (OFS) | 19,189,330 equity shares | |
| Investor Information | Lot Size | 34 shares |
| Listing Platform | BSE and NSE | |
| Issue Type | Book Building Issue |
IPO Important Dates
| Event | Date |
|---|---|
| IPO Opening Date | Friday, November 29, 2024 |
| IPO Closing Date | Tuesday, December 3, 2024 |
| Finalisation of Basis of Allotment | Wednesday, December 4, 2024 |
| Initiation of Refunds | Thursday, December 5, 2024 |
| Credit of Shares in Demat Account | Thursday, December 5, 2024 |
| Listing Date | Friday, December 6, 2024 |
What is GMP of Suraksha Diagnostic IPO Today?
As of November 24, 2024, the Grey Market Premium (GMP) for the Suraksha Diagnostic IPO is ₹*. This indicates that the shares are expected to list at approximately ₹* per share.
Note: GMP is an unofficial indicator and is based on market speculation; it does not guarantee actual listing performance.
Suraksha Diagnostic Financial Standing
| Particulars | FY 2024 (Amount in ₹ Million) |
FY 2023 (Amount in ₹ Million) |
FY 2022 (Amount in ₹ Million) |
|---|---|---|---|
| Total Assets | 3,002.07 | 2,811.95 | 2,759.59 |
| Total Revenue | 2,222.60 | 1,936.87 | 2,257.68 |
| Total Expense | 1,900.28 | 1,869.39 | 1,977.56 |
| Profit After Tax | 231.27 | 60.65 | 208.24 |
| Net Worth | 1,794.08 | 1,559.26 | 1,458.42 |
| Reserves & Surplus | 1,708.79 | 1,473.97 | 1,373.13 |
Suraksha Diagnostic Limited has shown good growth in its financials over the years. The company’s total assets increased from ₹2,759.59 million in FY 2022 to ₹3,002.07 million in FY 2024. Total revenue was ₹2,257.68 million in FY 2022 but decreased slightly to ₹2,222.60 million in FY 2024. Profit After Tax improved from ₹208.24 million in FY 2022 to ₹231.27 million in FY 2024, showing efforts to improve profitability. The company’s net worth also increased from ₹1,458.42 million in FY 2022 to ₹1,794.08 million in FY 2024, showing financial growth and improvement.
Company's Key Financial Metrics
| Key Performance Indicator | Value (as of March 31, 2024) |
|---|---|
| Return on Capital Employed (ROCE) | 21.46% |
| Return on Equity (ROE) | 14.09% |
| EBITDA Margin (%) | 33.66% |
| After Tax Profit Margin (%) | 10.40% |
| Debt to Equity Ratio | 0.20 |
| Net Asset Value (NAV) | ₹33.66 per share |
Lot Size and Applicaiton Amount
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail Investor (Minimum Lot) | 1 | 34 | 14,994 |
| Retail Investor (Maximum Lot) | 13 | 442 | 194,922 |
| S-HNI Investor (Minimum Lot) | 14 | 476 | 209,916 |
| S-HNI Investor (Maximum Lot) | 66 | 2,244 | 989,604 |
| B-HNI Investor (Minimum Lot) | 67 | 2,278 | 1,004,598 |
Cash Flow Overview
| Net Cash Flow | March 31, 2024 (₹ Million) | March 31, 2023 (₹ Million) | March 31, 2022 (₹ Million) |
|---|---|---|---|
| Net Cash Flow from Operating Activities | 604.84 | 440.96 | 578.23 |
| Net Cash Flow from Investing Activities | -349.96 | -207.95 | -432.81 |
| Net Cash Flow from Financing Activities | -251.30 | -243.28 | -142.85 |
| Net Increase/(Decrease) in Cash | 3.58 | -10.27 | 2.57 |
Key Objectives of This IPO
“The funds raised through this IPO will be utilized for the following purposes:”
- Expanding the network of diagnostic centers.
- Upgrading medical and diagnostic technology.
- Repaying or prepaying certain debts.
- Funding general corporate expenses.
Positives & Negatives of the Company
Positives:
- Strong presence in Eastern India with multiple diagnostic centers.
- Offers both pathology and radiology services under one roof.
- Affordable and accessible for a wide range of customers.
- Growing demand for healthcare services boosts its potential.
Negatives:
- Limited presence outside Eastern India, reducing nationwide reach.
- Faces stiff competition from established national players.
- High dependency on operational efficiency to maintain margins.
- Growth might be affected by economic downturns or healthcare regulations.
- Requires constant investment in technology to stay competitive.
State wise Revenue Breakdown
| District/Area | FY 2024 Revenue (₹ million) | Number of Diagnostic Centers | Estimated Population (2023, in million) |
|---|---|---|---|
| North 24 Parganas | 1,073.59 | 20 | 10.87 |
| Kolkata | 529.96 | 10 | 4.88 |
| South 24 Parganas | 77.00 | 2 | 8.86 |
| Hooghly | 60.33 | 2 | 5.99 |
| Howrah | 16.33 | 2 | 5.26 |
| Jalpaiguri | 32.76 | 2 | 4.20 |
| Darjeeling | 69.61 | 2 | 2.00 |
| Nadia | 83.84 | 1 | 5.61 |
| Bardhaman | 39.80 | 2 | 8.38 |
| Purba Medinipur | 14.72 | 1 | 5.53 |
| Cooch Behar | 0.28 | 1 | 3.06 |
Industry Average PE Ratio
| Particulars | Industry Peer P/E Ratio |
|---|---|
| Highest | 82.57 |
| Lowest | 47.60 |
| Average | 66.62 |
Peer Comparison: EPS, PE Ratio, and Face Value
| Name of Company | Face Value (₹ Per Share) | EPS (₹) | P/E |
|---|---|---|---|
| Suraksha Diagnostic Limited | 2.00 | 4.43 | NA |
| Metropolis Healthcare | 2.00 | 24.95 | 82.57 |
| Vijaya Diagnostic | 1.00 | 11.62 | 67.65 |
| Thyrocare | 10.00 | 13.42 | 47.60 |
| Dr Lal PathLabs | 10.00 | 43.05 | 68.66 |
Our Verdict
Suraksha Diagnostic Limited has established itself as a prominent player in the diagnostic sector with consistent growth in revenues and a strong focus on delivering accurate and affordable healthcare services. The company’s strategic expansion and investment in advanced technology highlight its commitment to long-term sustainability and efficiency. Its growing presence in Eastern India further adds to its potential.
However, the company’s regional focus and increasing competition in the diagnostic industry might raise concerns among potential investors.
Overall, Suraksha Diagnostic Limited appears to be a promising option for long-term growth, particularly for those seeking exposure in the healthcare sector. Investors are advised to carefully review the RHP and assess the associated risks before making a decision.
It is always beneficial to read Draft Red Herring Prospectus (DRHP) carefully to better understand its financials and growth opportunities before making a decision.
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Frequently Asked Questions
- What are the opening and closing dates for the Suraksha Diagnostic Public Offering?
The issue opens on 29 November, 2024 and closes on 3 December, 2024. - What is the issue price for the Suraksha Diagnostic ?
The issue price band is set at₹420 to ₹441 per equity share. - What is the minimum lot size for retail investors in this Initial Public Offering?
Retail investors can bid for a minimum of 34 shares, amounting to ₹14994. - Who is the lead manager for this issue?
The lead managers are ICICI Securities Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited. - Who is the registrar for the Suraksha Diagnostic Limited issue?
The registrar is kfin Technologies. - What are the main objectives of the IPO?
The funds will be utilized for expansion, repayment of debts, and general corporate purposes. - On which stock exchange will the shares be listed?
The shares are proposed to be listed on NSE and BSE. - What is the total issue size for the Suraksha Diagnostic initial public offering?
The total issue comprises up to 19189330 equity shares, aggregating to ₹846.25 crore. - When will the allotment and refund process begin?
The allotment date is 4 December, 2024 and refunds will begin on 5 December, 2024. - When will the shares be credited to the Demat account?
Shares will be credited to investors’ Demat accounts on 5 December, 2024. - What is the expected listing date for the issue?
The shares are expected to list on 6 December, 2024.
Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Suraksha Diagnostic Ltd IPO, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
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