The IPO market is a bit dull right now. However, many investors try to test their luck in the IPO market. But recently SRL Diagnostics of the health care sector is preparing for an IPO. If you also want to earn money through IPO then know about this company..
First Published Feb 17, 2023, 7:50 PM IST
If you are aiming to make money through IPO, a legendary company IPO is now ready to hit the market. This IPO, which belongs to the health sector, will distribute the initial listing profits to Madhupar. Ready Let’s know what is that IPO and its story. SRL Diagnostics is coming up with its IPO soon. SRL Fortis Healthcare subsidiary plans to come up with Rs 2000 crore IPO. The company has also started discussions with investment bankers for an IPO. According to a Moneycontrol website report, SRL is in further talks for an IPO. On the other hand, talking about Fortis, it was acquired by IHH Healthcare of Malaysia in the year 2018.
Explain that IHH Healthcare holds 31.17 percent stake in Fortis Healthcare. The remaining 68.83 percent is public shareholding. It is listed on the market. Talking about SRL Diagnostics, its labs are spread across the country but it ranks second in terms of revenue. Dr. Lal Pathlabs is number one.
SRL Diagnostics IPO:
Fortis Healthcare subsidiary SRL Diagnostics Rs. It plans to launch an IPO to raise funds of Rs 2,000 crore. According to news, its issue may be related to Offer for Sale (OFS). The promoter group holds 57.68 per cent stake in SRL Diagnostics. Additionally, institutions such as IFC, the World Bank’s development finance arm, Jacob Ballas of NY also own 31.52 percent.
Talking about the diagnostic segment, the situation in the domestic market is not so good. Share price of Dr. Lal Path Labs has declined by 16.5 percent in the last three months, while Metropolis Healthcare’s share price has also lost 19 percent. At the same time, Thyrocare’s share price also fell 26.7 percent.
Talking about SRL Diagnostics, as soon as Corona cases came down, its business was also affected. But non-Covid revenue in the December 2022 quarter rose 7 percent on an annualized basis. It increased from Rs.388.5 crores to Rs.331.5 crores on annual basis in the December quarter.
