Suraksha Diagnostics Listing: The diagnostic solution provider's IPO (initial public offering) continues to witness a tepid response from investors. The issue was subscribed only 23 per cent by the second day of the bidding period.
The subdued investor interest comes at a time when the primary market is experiencing a breather.
The IPO was subscribed 11 per cent on the first day of bidding. The share sale, priced between Rs 420 and Rs 441 per share, will close tomorrow, December 3 (Tuesday).
The issue consists entirely of an OFS (offer-for-sale) of 1.91 crore shares. What is worth noting is that qualified institutional investors haven’t placed any bids yet.
The Kolkata-based diagnostics provider aims to raise Rs 846.25 crore via its first public issue. And since it's an OFS, the company won’t receive any funds from the offer.
Suraksha Diagnostics GMP
The diagnostic company is still trading at a flat premium in the grey market. On Monday, Suraksha Diagnostics was trading at a GMP (grey market premium) of Rs 0, indicating no premium over the issue price.
Suraksha Diagnostics Listing
The bidding period for Suraksha Diagnostics IPO will close on December 3 and the allotment of shares will take place on December 4. The prospective date of listing is set for December 6.
According to the circular uploaded on BSE's portal, the top anchor investors in the IPO includ Nippon India Mutual Fund, Kotak MF, Carnelian Bharat Amritkaal Fund, Aditya Birla Sun Life MF and Quant MF.
The company has allotted 57.57 lakh equity shares to 16 funds at Rs 441 apiece. This brings the total transaction value to Rs 254 crore, according to the circular.
SBI Capital Markets Ltd, ICICI Securities Ltd and Nuvama Wealth Management Ltd are the book-running lead managers of the IPO. The company is all set to make its D-street debut on Friday.
