The initial public offering (IPO) of Vijaya Diagnostic opens for subscription today, i.e. September 1 and will close on September 3
The initial public offering (IPO) of Rs 1,895.04 crore from Vijaya Diagnostic Center opens for subscription today, i.e. September 1 and will close on September 3. The initial public offering of diagnostic chain Kedaara Capital is entirely an offer to sell 35.69 million shares by existing shareholders. The shares will be sold in the price range of Rs 522 to Rs 531 per share and are expected to be listed on September 14.
Bidders may bid on the public issue of the for a lot of 28 shares and in multiples thereof, up to 13 lots. About 50 percent of the shares offered will be reserved for Qualified Institutional Buyers (QIB), 15 percent for Non-Institutional Investors (NII) and 35 percent for Retail Investors.
Vijaya Diagnostic will not receive any funds from the IPO as it is entirely an offer to sell.
The Vijaya Diagnostic Center, promoted by Dr S Surendranath Reddy, is one of the largest integrated diagnostic chains in South India. It offers pathology and radiology testing services in 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 primarily responsible for the issuance, while KFintech will be the registrar.