Suraksha Diagnostic has raised Rs 253.87 crore from 12 institutional investors through an anchor book ahead of its Rs 846.25 crore IPO, which opens for subscription from November 29 to December 3. The IPO consists entirely of an offer-for-sale of 1.9 crore equity shares, priced at Rs 441 each. Major investors include Nippon Life India and Kotak Mutual Fund, each acquiring shares worth Rs 35 crore.
Nippon Life India Asset Management reported a strong quarter with a 2% increase in core income, driven by a 2.7% revenue beat and improved blended yields. The company's net equity flow market share rose significantly, prompting an upgrade in core EPS forecasts for FY25E and FY26E, leading to a revised target price of Rs 820. The stock is currently valued at 28x on September 2026 core EPS, with a healthy core PAT CAGR projected at 28% over FY24-26E.
Nippon Life India Asset Management reported a robust 44% year-on-year growth in core revenues, driven by a 57% increase in mutual fund AUM, reaching Rs 6.5 lakh crore. The company’s market share in mutual fund AUM rose to 8.3%, with equity AUMs up 70% year-on-year. Sharekhan maintains a Buy rating with a target price of Rs 840, as the stock trades at attractive multiples for FY2025E to FY2027E.
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