Vijaya Diagnostics Centre Limited is looking to open its initial public offering (IPO) of Rs 1,895.04 crore next month. The company is one of the fastest-growing diagnostics chains in the Southern part of India. It offers a wide variety of services ranging from pathology to radiology testing. It also has a significant presence in many cities and towns in the South, including places such as Telangana, Andhra Pradesh, National Capital Region, and Kolkata. With that said and the Vijaya Diagnostics Centre Limited IPO less than a week away, here are the 10 things that you should know before the issue opens.
1) Vijaya Diagnostics Centre IPO Overview and Price Band
Vijaya Diagnostics Centre is eyeing a public issue of Rs 1,895.04 crore, which it aims to take public on September 1, 2021. The issue is entirely made up of an offer for sale (OFS). It has 35,688,064 equity shares with Rs 1 per equity share as the face value. The book-built issue carries a price band of Rs 522 to Rs 531 per equity share and it is looking to list on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
2) Vijaya Diagnostics Grey Market Premium (GMP)
The grey market premium of the Vijaya Diagnostics Centre Limited IPO stood at Rs 35 as per information on IPO Watch. This indicated that the issue was trading at a premium of Rs 557 to Rs 566 per equity share on the unlisted market.
3) Important IPO Dates
The issue itself is will open on September 1 and stay open for three days of trading. The public issue will come to a close on September 3. Any anchor bookings that might take place, would happen a day prior to the issue opening, which would make it August 31.
4) Vijaya Diagnostics Allotment, Listing Date
After the investors have subscribed, the basis of allotment, refunds and share accreditations will likely take place on September 8, September 9 and September 13 respectively. Though the listing date is yet to be confirmed, it tentatively stands at September 14.
5) IPO Club Lot Size and Subscription Status
The public issue has a minimum lot size of 28 shares that has an application amount of Rs 14,868. On the higher end of the lot, the size stands at 364 shares with Rs 193,284 as the maximum application amount. For the IPO, the retail-individual investors (RIIs) can apply for up to 13 lots at the upper end of the lot size.
In terms of subscriptions, the Retail portion has an allotment of 35 per cent for the issue. The qualified institutional buyers (QIBs) were given a reservation of 50 per cent and the non-institutional investors (NIIs) have a 15 per cent reservation allotted to them.
6) The Object of the Offer
The company aims to use the net proceeds from the IPO to achieve the benefits of listing its shares on the Stock Exchanged. It also intends to make an OFS of 35,688,064 shares with the issue.
7) Promoters and Other Details
The promoter for the Vijaya Diagnostics Centre Limited IPO is Dr S Surendranath Reddy, who is also the Executive Chairman of the company.
8) Company Profile
Vijaya Diagnostics Centre was incorporated in 1981 and has since established itself as one of the fastest-growing diagnostics chains in South India. It offers one-stop-shop solutions for pathology and radiology testing services. It also has a substantial network that consists of 80 diagnostic centres and 11 reference laboratories spread across 13 cities and towns in the states of Telangana, Andhra Pradesh, National Capital Region, and Kolkata. Apart from these services broad spectrum of customised health and wellness packages are also offered to its customers.
9) Company Financials
The financial performance of the company has been somewhat on the decline from FY19 to FY21. Vijaya Diagnostics reported its revenue as Rs 388.5 crore in FY19. In FY21, the revenue that was reported was Rs 302.90 crore, according to AngleOne.
10) Competitive Strengths of Vijaya Diagnostics Centre
Apart from being one of the fastest-growing chains, it also has strong technical capabilities, and robust technology to support its operations. All the labs are also nationally accredited. In addition to this, the company has a high brand recall, which has driven up the individual consumer business.
Read all the Latest News, Breaking News and Assembly Elections Live Updates here.
Comments
0 comment