Vijaya Diagnostic IPO Opens For Subscription Today

Vijaya Diagnostic Center's Rs 1,895.04 crore initial public offering (IPO) opens for subscription today i.e. September 1 and will close on September 3. The Kedaara Capital-backed diagnostic chain's IPO is entirely an offer for sale of 35.69 million shares by existing shareholders. The shares will be sold in the price band of Rs 522-Rs 531 a share and are likely to be listed on September 14.

Bidders can bid in the public issue of the for one lot of 28 shares and in multiples thereof, extending up to 13 lots. Around 50 per cent of the shares on offer will be reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail investors.

Vijaya Diagnostic will not receive any funds from the IPO as it is entirely an offer for sale.

Vijaya Diagnostic Center, promoted by Dr S Surendranath Reddy, is among the largest integrated diagnostic chains in south India. It offers pathology and radiology testing services at 80 diagnostic centers and 11 reference laboratories in Telangana, Andhra Pradesh, NCR and Kolkata.

Edelweiss Financial Services, ICICI Securities and Kotak Mahindra Capital will be the book running lead managers to the issue, whereas KFintech will be the registrar.