Suraksha Diagnostic, a company supported by OrbiMed, has submitted its red herring prospectus for its upcoming initial public offering (IPO) scheduled to launch on November 29.

The price range for the IPO will be disclosed on November 26. The IPO will consist solely of an offer-for-sale of 1.91 crore equity shares by existing shareholders, with no issuance of new shares. As a result, all proceeds will go to the promoters and investors.

Promoters Somnath Chatterjee, Ritu Mittal, and Satish Kumar Verma will each sell 21.32 lakh shares, while OrbiMed Asia II Mauritius will sell 1.06 crore shares. Additionally, Munna Lal Kejriwal and Santosh Kumar Kejriwal will each sell 21.32 lakh shares. The anchor book for institutional investors will open for one day on November 28, and bidding for all investor categories will close on December 3.