Vijaya Diagnostic IPO to open on September 1; value band set at Rs 522-531/share

Healthcare chain Vijaya Diagnostic Centre on Thursday mentioned it has fastened a value band of Rs 522-531 a share for its Rs 1,895-crore preliminary share-sale.
The three-day preliminary public provide (IPO) will open for subscription on September 1 and conclude on September 3, the corporate introduced in a digital press convention.
The IPO is solely a suggestion on the market of 35,688,064 fairness shares by the promoter Dr S Surendranath Reddy and buyers — Karakoram Ltd and Kedaara Capital Alternative Investment Fund-Kedaara Capital AIF I.
As part of the provide on the market, Reddy will promote 50.98 lakh fairness shares, Karakoram will offload 2.95 crore fairness shares and Kedaara Capital will divest 11.02 lakh shares.

The preliminary share-sale will see stake dilution of 35 per cent by promoter and current shareholders.
At current, promoter and promoter group personal 59.78 per cent shareholding within the firm. This included Reddy’s 37.78 per cent stake.
Karakoram and Kedaara Capital maintain 38.56 per cent and 1.44 per cent stake, respectively, in Vijaya Diagnostic.
At the higher finish of the value band, the preliminary share-sale is anticipated to fetch about Rs 1,895 crore.
Half of the problem measurement has been reserved for certified institutional buyers (QIBs), 35 per cent for retail buyers and the remaining 15 per cent for non-institutional buyers.
Investors can bid for no less than 28 fairness shares and in multiples of 28 fairness shares thereafter.
Vijaya Diagnostic Centre provides a one-stop resolution for pathology and radiology testing providers to prospects by way of its intensive community, which consists of 80 diagnostic centres and 11 reference laboratories throughout 13 cities and cities within the states of Telangana and Andhra Pradesh, and the National Capital Region and Kolkata.

ICICI Securities, Edelweiss Financial Services and Kotak Mahindra Capital Company have been appointed as funding bankers for advising the corporate on its IPO.
Earlier this month, Krsnaa Diagnostics raised a bit of over Rs 1,213 crore by way of its IPO.