MUMBAI: Vijaya Diagnostic Center Ltd, backed by Kedaara Capital, set the price range for its initial public offering (IPO) at ??522-531 an action. Previously, the company announced that its IPO would open on September 1 and close on September 3.
The IPO consists of a pure sell offer (OFS) of 35.69 million shares by its existing shareholders and promoters. OFS includes up to 5.1 million shares by Dr S Surenranath Reddy, up to 29.49 million shares by Karakoram Ltd, 1.10 million shares by Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF I.
On the price of the upper band, the company plans to increase ??1,895.14 crores. The company is expected to go public on September 14.
ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital Co Ltd are the main managers of the issue.
For the 2021 financial year, the company achieved a turnover of ??376.75 crore compared to ??338.82 crores a year ago. The net profit for the year amounts to ??84.91 crores compared to ??62.51 crore a year ago.
The company’s bank balance is ??200.11 crore, significantly higher than the outstanding debt of ??4.47 crore in March 2021.
Vijaya Diagnostic is South India’s largest integrated diagnostic chain by operating revenue, and also one of the fastest growing diagnostic chains by revenue for the fiscal year 2020. It offers a one-stop solution for pathology and radiology testing services to our customers through our extensive operational network, which includes 80 diagnostic centers and 11 reference laboratories in 13 towns and villages in the states of Telangana and Andhra Pradesh, as well as in the National Capital Region and Kolkata.
The practice offers a full range of approximately 740 routine tests and 870 specialist pathology tests and approximately 220 basic radiology tests and 320 advanced radiology tests that cover a range of specialties and disciplines, as of March 2021.
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