Vijaya Diagnostic Centre’s Rs 1,895-crore IPO to open on Sept 1

The integrated diagnostic chain that operates in southern India, has fixed the price band of the offer at Rs 522 to Rs 531 per equity share. Bids can be made for a minimum of 28 equity shares and in multiple of 28 equity shares thereafter

Hyderabad: Hyderabad-based Vijaya Diagnostic Centre’s Rs 1,895-crore IPO will open for subscription on 1 September, at a price band of Rs 522-531 per share of the face value of Re 1 each.

The integrated diagnostic chain that operates in southern India, has fixed the price band of the offer at Rs 522 to Rs 531 per equity share. Bids can be made for a minimum of 28 equity shares and in multiple of 28 equity shares thereafter. The offer will close on Friday, September 3, 2021.

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The Initial Public Offering comprises of an offer for sale of up to 35,688,064 equity shares by the selling shareholders, comprising of up to 5,098,296 equity shares by Dr S Surendranath Reddy, up to 29,487,290 equity shares by Karakoram and up to 1,102,478 equity shares by Kedaara Capital Alternative Investment Fund- Kedaara Capital AIF 1.

One-third of the anchor investor portion will be reserved for domestic Mutual Funds, subject to valid bids being received from the domestic Mutual Funds at or above the anchor investor allocation price.

Company expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity to shareholders and will also provide a public market for the equity shares in India.

ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital are the Book Running Lead Managers to the issue.

The company, which has a network of 81 centres, earns 90 per cent of its revenues from the B2C segment.

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