Vijaya diagnostic center makes mixed debut, posts 2% premium on BSE and ESN
Shares of Vijaya Diagnostic Center made a mixed debut on the stock exchanges. The shares of the diagnostic chain supported by Kedaara Capital listed at Rs 542.30 on BSE, a premium of 2.13% over the issue price of Rs 531 per share. On the NSE, shares opened at Rs 540, a premium of 1.69%. At 10:10 am, shares of Vijaya Diagnostic were trading at Rs 577, up 8.8%, on BSE and at Rs 576.25, up 8.5%, on BSE.
The public offering of Vijaya Diagnostic Center was entirely an offer to sell 35.69 million shares by existing shareholders and promoters, including Dr S Surenranath Reddy, Karakoram and Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF I.
The public offering was subscribed 4.54 times. The segment of qualified institutional buyers was subscribed 13.07 times, non-institutional investors were subscribed 1.32 times and the share of retail investors was subscribed 1.09 times.
The Vijaya Diagnostic Center was promoted by Dr S Surendranath Reddy. It is one of the largest integrated diagnostic chains in South India, offering pathology and radiology testing services in 80 diagnostic centers and 11 reference laboratories in 13 towns and villages in Telangana, Andhra Pradesh. , NCR and Kolkata.
Edelweiss Financial Services, ICICI Securities, and Kotak Mahindra Capital are the primary maintainers of the public issue, while KFintech is the registrar of the issue.