OrbiMed-backed Suraksha Diagnostic files IPO papers
capital markets regulator SEBI to float an initial public offering (IPO).
The size of the proposed IPO would be around Rs 850 crore, sources said.
According to the DRHP, the IPO of the Kolkata headquartered company consists of an Offer for Sale (OFS) of up to 19,189,330 equity shares by the selling shareholders.
The OFS comprises up to 10,660,737 equity shares by the investor selling shareholder — OrbiMed Asia II Mauritius Limited; up to 2,132,148 Equity Shares each by the promoter selling shareholders — Dr. Somnath Chatterjee, Ritu Mittal and Satish Kumar Verma, and the individual selling shareholders, Munna Lal Kejriwal and Santosh Kumar Kejriwal offering up to 799,556 and 1,332,593 equity shares, respectively.
US investment firm OrbiMed invested in Suraksha in 2016, which included fresh capital infusion as well as acquiring the stake of private equity investor Lighthouse.
OrbiMed holds a stake of close to 35 percent in Suraksha,
Founded in 1992, Suraksha is promoted by Chatterjee and Mittal, offering both pathology and radiology testing, and medical consultation services through network, consisting of a central reference laboratory, 8 satellite laboratories, and 194 customer touchpoints which include 48 diagnostic centres, and 146 sample collection centres, across West Bengal, Bihar, Assam, and Meghalaya, as of March 31, 2024.
Suraksha has revenue of Rs 179.4.1 crore in FY24 compared to Rs 155.93 crore in FY23.
Suraksha offers over 2,300 tests that cover a range of specialties. During FY24, it conducted
