Integrated diagnostic chain Suraksha Diagnostic Ltd on Tuesday said it has fixed a price band of Rs 420 to Rs 441 apiece for its Rs 846-crore initial public offering (IPO).
The initial share-sale will open for public subscription on November 29 and conclude on December 3 and the bidding for anchor investors will open for a day on November 28, the company announced.
The Kolkata-headquartered company’s IPO consists of an Offer-for-Sale (OFS) of 19,189,330 equity shares worth Rs 846.25 crore, at the upper end of the price band, by promoters and investor shareholders, with no fresh issue component.
Under the OFS, promoters — Somnath Chatterjee, Ritu Mittal, Satish Kumar Verma and investors — OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal will offload shares.
Since the issue is completely 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 it is
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