Vijaya Diagnostic IPO opens on Sept. 1,price band fixed at ₹522-531

The price band of Vijaya Diagnostic Centre’s initial public offering (IPO) opening on September 1 has been set at ₹522-531 per equity share.

The IPO, to raise upto ₹1,895 crore, is an offer for sale of nearly 3.57 crore equity shares by the promoter S. Surendranath Reddy as well as investors Karakoram and Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF 1.

The minimum bid lot is 28 shares and in multiples of 28 shares thereafter. The IPO will close on September 3. While the company will not receive any proceeds from the IPO — the selling shareholders will get them – it expects listing of the shares to enhance its visibility and brand image.

Vijaya Diagnostic Centre provides pathology and radiology testing services. CEO Suprita Reddy said its operational network consists of 81 diagnostic centres and 11 reference laboratories across 13 cities and towns in Telangana and Andhra Pradesh and in National Capital Region and Kolkata. Besides setting up additional diagnostic centres in Telangana and Andhra Pradesh, it plans to expand in adjacent geographies and east India. The company intends to also supplement organic growth with selective acquisitions.

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