Vijaya Diagnostic fixes price band for Rs 1,895-cr IPO. Check details here


Hyderabad-based pathology chain Vijaya Diagnostic Centre Ltd has fixed a price band of Rs 522-531 per share for its initial public offering that begins next month. 

Vijaya Diagnostic’s IPO will open September 1 and close two days later. The anchor bookwill open on August 31.This is the 39th IPO in 2021.

The IPO is completely an offer for sale of about 3.57 crore shares by the company’s promoters and private equity investor Kedaara Capital.The promoter Dr S Surendranath Reddy is selling about 51 lakh shares while Kedaara will offload the remaining.

The IPO will constitute at least 35% of post-offer equity share capital of the company. At the upper end of the price band, the IPO will raise almost Rs 1,895 crore.

Half of the IPO size is reserved for qualified institutional buyers while up to 35%has been set aside for retail investors and the remaining 15% for non-institutional investors.The company has also reserved 1.5 lakh shares for its employees and may allot these shares at a discount to the final issue price.

Investors can bid for a minimum of 28 shares and in multiples of 28 shares. This means retail investors can bid for shares worth at least Rs 14,868 for one lot. Their maximum investment would be Rs 1,93,284 for 13 lots of shares.

Vijaya Diagnostic provides a wide range of about 740 routine and 870 specialized pathology tests. It also offers 220 basic and 320 advanced radiology tests across a range of specialties.

The company is the largest integrated diagnostics chain in southern India by operating revenue. It has 81 diagnostic centres and 11 reference laboratories across 13 cities and towns in Telangana, Andhra Pradesh, the National Capital Region and Kolkata as on June 2021.