Vijaya Diagnostic Center’s Rs 1,895.04 crore Initial Public Offering (IPO) opens for subscription today i.e. September 1st and will close on September 3rd. The Kedaara Capital-backed diagnostic chain’s IPO is entirely an offer to sell 35.69 million shares by existing shareholders. The shares will be sold in the price range of Rs 522-Rs 531 per share and are likely to be listed on September 14.
Bidders may bid on the public issuance of the for one lot of 28 shares and in multiples thereof, up to 13 lots. Approximately 50 percent of the shares on offer will be reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors (NIIs) and 35 percent for retail investors.
Vijaya Diagnostic does not receive any money from the IPO as it is entirely a sales offering.
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 laboratories 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.