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Vijaya Diagnostics Centre IPO August 28 2021Vijaya Diagnostic Centre, Vijaya Diagnostics IPO

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Vijaya Diagnostics Centre IPO Open Next Week

Vijaya Diagnostics Centre Limited intends to go public next month with an initial public offering (IPO) of Rs 1,895.04 crore. The company is one of India's fastest-growing diagnostics chains. It provides a wide range of services, from pathology to radiological testing. It is also present in a number of southern cities and towns, including Telangana, Andhra Pradesh, the National Capital Region, and Kolkata. With all that in mind, and the Vijaya Diagnostics Centre Limited IPO coming up in less than a week, here are ten things you should be aware of before the IPO.

1) Overview of Vijaya Diagnostics Centre's Initial Public Offering (IPO) and Price Band

Vijaya Diagnostics Centre is planning a Rs 1,895.04 crore public offering, which it intends to launch on September 1, 2021. The issue is entirely made up of Offer For Sale (OFS). It has 35,688,064 equity shares, each with a face value of Rs 1. The book-built offering would be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) at a price range of Rs 522 to Rs 531 per equity share.

2) Vijaya Diagnostics Grey Market Premium (GMP)

The grey market premium for the Vijaya Diagnostics Centre Limited IPO was Rs 35. This meant that the issue was selling on the unlisted market at a premium of Rs 557 to Rs 566 per equity share.

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3) Crucial IPO Dates

The issue itself will begin trading on September 1 and will remain open for three days. The initial public offering will conclude on September 3. Any anchor bookings that may occur would take place a day before the issue's release date, which would be August 31.

4) Allotment of Vijaya Diagnostics, Listing Date

Following the subscription of investors, the basis of allotment, refunds, and share accreditations will most likely take place on September 8, September 9, and September 13, respectively. Though the listing date has yet to be announced, it is expected to be September 14.

5) Lot Size and Subscription Status of the IPO

The minimum lot size for the public issue is 28 shares, with an application fee of Rs 14,868. The lot size is 364 shares, with a maximum application amount of Rs 193,284 at the higher end of the lot. Retail-individual investors (RIIs) can apply for up to 13 lots at the maximum lot size for the IPO.

In terms of subscriptions, the Retail portion has a 35% allotment for the issue. The qualified institutional buyers (QIBs) were given a 50% reservation, while non-institutional investors (NIIs) were given a 15% reservation.

6) The Offer's Objective

The company intends to use the net proceeds of the IPO to reap the benefits of having its shares listed on the Stock Exchange. It also wants to make an OFS of  35,688,064 shares in connection with the issuance.

7) Promoters and Other Information

Dr S Surendranath Reddy, the company's Executive Chairman, is the promoter for the Vijaya Diagnostics Centre Limited IPO.

8) Company Profile

Vijaya Diagnostics Centre was founded in 1981 and since then it has grown to become one of South India's fastest-growing diagnostic centers. It provides one-stop-shop services for pathology and radiology testing. It also operates a wide network of 80 diagnostic centres and 11 reference laboratories spread over 13 cities and towns in Telangana, Andhra Pradesh, the National Capital Region, and Kolkata. Alongside these services, it also provides a wide range of customized health and wellness packages to its consumers.

9) Financial Statements of the Company

From FY19 to FY21, the company's financial performance has been on the decline. In fiscal year 2019, Vijaya Diagnostics recorded revenue of Rs 388.5 crore.  The income recorded in FY21 was Rs 302.90 crore.

10) Vijaya Diagnostics Centre's Competitive Advantages

In addition to being one of the fastest-growing chains, it has excellent technical capabilities and sturdy technology to support its operations. In addition, all of the labs are nationally accredited. Furthermore, the corporation has a good brand recall, which has boosted the individual consumer business.

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