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Vijaya Diagnostic Centre fixes price band at Rs 522 531 for IPO

Vijaya Diagnostic Centre fixes price band at Rs 522-531 for IPO

Vijaya Diagnostic Centre fixes price band at Rs 522-531 for IPO
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By CNBCTV18.com Aug 26, 2021 10:12:59 AM IST (Published)

Bidding for shares under the Vijaya Diagnostic Centre (VDC) IPO will begin on September 1, and end on September 3. Investors will be able to bid in lots of 28 shares up to 13 lots (364 shares). 

Hyderabad-based Vijaya Diagnostic Centre, a diagnostics network, has fixed a price band of Rs 522-531 for its initial public offering (IPO), which is set to hit Dalal Street on September 1. Vijaya Diagnostic's IPO, estimated to be worth Rs 1,895 crore, will be the 39th in the country so far in 2021.

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Bidding for shares under the public offer will begin on September 1 and end on September 3. Investors will be able to bid in lots of 28 shares, which means they will have to bid for a minimum of 28 shares at a time and in multiples thereof up to 13 lots (364 shares).
At the upper end of the price band, one lot will cost investors Rs 14,868.
The anchor book is likely to open for a day on August 31, one day ahead of the start of the bidding process. Vijaya Diagnostic Centre shares are likely to be listed on stock exchanges on September 14.
Vijaya Diagnostic's IPO comprises an offer for sale (OFS) of 3,56,88,064 shares by promoter Dr S Surendranath Reddy, and investors Kedaara Capital AIF and Karakoram Capital AIF 1.
Of the total issue, 1.5 lakh equity shares are reserved for company employees under the IPO. They will get a discount of Rs 52 to bid for shares.
While half of the issue is reserved for qualified institutional buyers (QIB),  15 percent is reserved for non-institutional investors, and 35 percent is kept for retail investors.
Vijaya Diagnostic Centre is India’s largest comprehensive diagnostic network with over 80 state-of-the-art centres spread across 13 cities, according to its website. VDC has a qualified team of over 2,200 professionals including radiologists, pathologists and healthcare professionals.
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