From doubling listing gains to negative debuts, the IPO market has taken investors on quite a roller coaster of a ride. However, the onslaught of public issues is far from over, and opening September’s innings is Vijaya Diagnostics. Here’s a quick round-up on it.
Key details
- IPO size: ₹1,894 crore
- Fresh issue: NA
- Price band: ₹522-₹531
- Lot size: 28 shares
- Cost per lot: ₹14,868
- Issue opens: 1 September 2021
- Issue closes: 3 September 2021
- Basis of allotment date: 9 September 2021
- Initiation of refunds: 9 September 2021
- Credit of shares to demat account: 13 September 2021
- Expected listing date: 14 September 2021
About Vijaya Diagnostics
A competitor to listed players such as Thyrocare and Metropolis Healthcare, Vijaya Diagnostics is a diagnostic chain in southern India. As per Crisil, it is one of the fastest-growing diagnostic chains by revenue for FY20.
The first ever clinic was established in Hyderabad in 1981 by Dr. S. Surendranath Reddy. At present, its network spans 80 diagnostic centres and 11 reference laboratories across 13 cities in Telangana, Andhra Pradesh (AP), the National Capital Region and Kolkata.
As of FY20, Vijaya claims to command approximately 2% share within the diagnostic market in south India on the basis of operating revenue. Here’s a look at its financials.
About the issue
The IPO is entirely an offer for sale, wherein the company will offer 35,688,064 shares.
IPO allocation quota
| QIB | NIB | Retail |
| 50% | 15% | 35% |
To know more about the Vijaya Diagnostics IPO, read its draft red herring prospectus here. The issue opens on 1 September 2021 and you can subscribe to it on Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!