Vijaya Diagnostics Centre IPO Open Next Week
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
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)
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
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
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
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
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
7) Promoters and Other Information
Surendranath Reddy, the company's Executive Chairman, is the promoter for the
Vijaya Diagnostics Centre Limited IPO.
8) Company Profile
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
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
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.