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Vijaya Diagnostic Centre, the largest integrated diagnostics chain in southern India in terms of operating revenue, has fixed a price band of Rs 522-531 per equity share for its public offer. This is the 39th IPO this year.
The bidding for the offer will start from September 1 and will close on September 3. Anchor book, if any, will open for a day on August 31.
The offer is completely an offer for sale of 3,56,88,064 equity shares by promoters, and investors Kedaara Capital and Karakoram.
The offer for sale comprises selling of 50,98,296 equity shares by promoter Dr S Surendranath Reddy, 2,94,87,290 equity shares by investor Karakoram, and 11,02,478 equity shares by investor Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF 1.
The issue includes a reservation of 1.5 lakh equity shares for its employees. The company may allot these shares at a discount to final issue price. The offer will constitute at least 35 percent of post-offer paid-up equity share capital of the company.
Investors can bid for a minimum of 28 equity shares and in multiples of 28 equity shares. Retail investors can bid for a minimum of Rs 14,868 worth of shares for one lot, and the maximum investment would be Rs 1,93,284 worth of shares for 13 lots.
Half of the offer size is reserved for qualified institutional buyers, up to 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
Vijaya Diagnostic Centre is one of the fastest-growing diagnostic chain by revenue for fiscal year 2020. It offer a comprehensive range of approximately 740 routine and 870 specialized pathology tests and approximately 220 basic and 320 advanced radiology tests that cover a range of specialties and disciplines, as of June 2021.
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It has an extensive operational network, which consists of 81 diagnostic centres and 11 reference laboratories across 13 cities and towns in the states of Telangana and Andhra Pradesh and in the National Capital Region and Kolkata as on June 2021.
The company was founded and promoted by Dr S Surendranath Reddy, the executive Chairman, holding 37.38 percent stake in the company. It is also backed by marquee investors Karakoram, and Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF 1.
Kedaara Capital Alternative Investment Fund owns 1.44 percent stake and Karakoram held 38.56 percent stake in the diagnostic chain operator.
