The IPO of Rs 1,895.04 crore (IPO) of Vijaya Diagnostic Center will open tomorrow i.e. September 1. The Kedaara Capital-backed diagnostic chain’s IPO will be an entirely sale offer of 35.69 million shares. The company has set the price range of the share offering at Rs 522 to Rs 531 per share. The share sale closes on September 3 and the shares are likely to be listed on September 14.
Shareholders and promoters who will sell their stake include Dr S Surenranath Reddy, Karakoram and Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF I.
Bidders can register at the public offering for one lot of 28 shares and in multiples thereof, up to a maximum of 13 lots. In total, approximately 50 percent of the shares offered will be reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors (NIIs) and 35 percent for retail investors. The company has also set aside 1.5 lakh shares for its employees.
Vijaya Diagnostic Center does not receive IPO proceeds as it is purely a sales offer.
Vijaya Diagnostic Center, promoted by Dr. S Surendranath Reddy, is one of the largest integrated diagnostic chains in South India. It provides pathology and radiology testing services in 80 diagnostic centers and 11 reference labs in 13 cities and towns in Telangana, Andhra Pradesh, NCR and Kolkata.
Edelweiss Financial Services, ICICI Securities and Kotak Mahindra Capital will be the lead managers for the issuance, while KFintech will be the registrar.