Vijaya Diagnostics IPO opens today: Check latest GMP, price band & subscription status

The largest integrated diagnostic chain in southern India, Vijaya Diagnostics IPO (Initial Public Offering) will open for subscription on Wednesday, September 1, with an issue size of Rs 1,895.04 crore. The shares will be listed on BSE and NSE most likely on September 3, 2021. The price band for the public issue has been set at Rs 522-531 per equity share

The IPO offers a sale of up to 35.68 million shares by the promoter and investors. Up to 5.09 million shares by promoter S Surendranath Reddy, 29.48 million shares by investor Karakoram, and 1.1 million shares by Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF 1. 

The IPO has a minimum lot size of 28 shares with Rs 14,868 as the minimum application amount. The higher end of the issue’s lot stands at 28 shares with a cap of Rs 1,93,284 as the application amount. In this lot, the portion allotted for retail investors is 13 lots to which they are allowed to invest up to Rs 2 lakh in an IPO. 

For qualified institutional buyers, half of the total offer is reserved and 15% for non-institutional investors. The remaining 35% for retail investors. The Application Supported by Blocked Amount (ASBA) is to be mandatorily utilized by all potential bidders, barring anchor investors. 

About Vijaya Diagnostics

Vijaya Diagnostic, one of the fastest-growing diagnostic chains by revenue for FY20, offers pathology and radiology testing services. It operates through 81 centers and 11 reference laboratories across 13 cities and towns in Telangana and Andhra Pradesh as well as in the National Capital Region and Kolkata. The company's individual consumer business contributed to 92% of revenue from operations in FY21.

According to a CRISIL report, the Indian diagnostics market was valued at Rs 71,000 crore to Rs 73,000 crore in FY21 and is projected to expand at a CAGR of 12-13% to Rs 92,000-98,000 crore by FY23, driven by a rise in health awareness and disposable incomes, increase in demand for better healthcare facilities and quality of care, and an increase in spending on preventive healthcare and wellness.

(Image credit: PTI/UNSPLASH)