Kedaara Capital backed Vijaya Diagnostic Center Ltd has fixed the price band for its initial public offer (IPO) at ₹522-531 a share. Earlier, the firm said its IPO will open on 1 September and close on 3 September.
MUMBAI: Kedaara Capital backed Vijaya Diagnostic Center Ltd has fixed the price band for its initial public offer (IPO) at ₹522-531 a share. Earlier, the firm said its IPO will open on 1 September and close on 3 September.
The IPO consists of a pure offer for sale (OFS) of 35.69 million shares by its existing shareholders and promoters. The OFS comprises upto 5.1 million shares by Dr S Surenranath Reddy, upto 29.49 million shares by Karakoram Ltd, 1.10 million shares by Kedaara Capital Alternative Investment Fund - Kedaara Capital AIF I.
On the upper band price, the company plans to raise ₹1,895.14 crore. The firm is likely to list on exchanges on 14 September.
ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital Co Ltd are the lead managers to the issue.
For fiscal year 2021, the company posted a revenue of ₹376.75 crore compared to ₹338.82 crore a year ago. Net profit for the year stood at ₹84.91 crore compared to ₹62.51 crore a year ago.
The firm's bank balance is at ₹200.11 crore, significantly higher than the debt outstanding of ₹4.47 crore as of March 2021.
Vijaya Diagnostic is the largest integrated diagnostic chain in southern India, by operating revenue, and also one of the fastest-growing diagnostic chains by revenue for fiscal year 2020. It offers a one-stop solution for pathology and radiology testing services to our customers through our extensive operational network, which consists of 80 diagnostic centers and 11 reference laboratories across 13 cities and towns in the states of Telangana and Andhra Pradesh, as well as in the National Capital Region and Kolkata.
The firm offers a comprehensive range of approximately 740 routine and 870 specialized pathology tests and approximately 220 basic and 320 advanced radiology tests that cover a range of specialties and disciplines, as of March 2021.