National, November 28, 2024: Suraksha Diagnostic Limited (the “Company”) proposes to open an initial public offering of Equity Shares (“Offer”) on Friday, November 29, 2024. The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Thursday, November 28, 2024. The Bid/ Offer Closing Date is Tuesday, December 3, 2024.
The Price Band of the Offer has been fixed from ₹ 420 per Equity Share to ₹ 441 per Equity Share. Bids can be made for a minimum of 34 Equity Shares and multiples of 34 Equity Shares thereafter.
The Initial Public Offering is an Offer For Sale of up to 19,189,330 Equity Shares (“Offered Shares”), comprising up to 2,132,148 Equity Shares by Dr. Somnath Chatterjee, up to 2,132,148 Equity Shares by Ritu Mittal, up to 2,132,148 Equity Shares by Satish Kumar Verma (whose shares are jointly held with Suman Verma) (together with Dr. Somnath Chatterjee and Ritu Mittal, the “Promoter Selling Shareholders”), up to 10,660,737 Equity Shares by Orbimed Asia II Mauritius Limited (the “Investor Selling Shareholder”), up to 799,556 Equity Shares by Munna Lal Kejriwal, and up to 1,332,593 Equity Shares by Santosh Kumar Kejriwal (together the “Individual Selling Shareholders”) (The Promoter Selling Shareholders, The Investor Selling Shareholder and the Individual Selling Shareholders, Collectively Referred to as the “Selling Shareholders”).
The Offer is being made through the Book Building Process, in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Offer shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (“QIB Portion”), provided that our Company may in consultation with the Book Running Lead Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”). One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from the domestic Mutual Funds at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than Anchor Investor Portion) (“Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, subject to valid Bids being received at or above the Offer Price, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds. Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. One-third of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ₹ 0.20 million and up to ₹ 1.00 million and two-thirds of the Non-Institutional Portion shall be available for allocation to Non-Institutional Bidders with a Bid size of more than ₹1.00 million provided that under-subscription in either of these two sub-categories of the Non-Institutional Portion may be allocated to Non-Institutional Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price.
All potential Bidders (except Anchor Investors) are mandatorily required to participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders, as applicable, pursuant to which their corresponding Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”) or by the Sponsor Bank(s) under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts. Anchor Investors are not permitted to participate in the Offer through the ASBA process.
The Equity Shares of the Company are proposed to be listed on BSE Limited (“BSE“) and the National Stock Exchange of India Limited (“NSE”, together with BSE, the “Stock Exchanges”).
ICICI Securities Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the Book Running Lead Managers (“BRLMs”) to the Offer.
