Vijaya Diagnostic Centre Limited IPO – Sept 1 to 3

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Vijaya Diagnostic Centre Limited IPO – Sept 1 to 3

August 27, 2021
Vijaya Diagnostic Centre Limited IPO – Sept 1 to 3

Vijaya Diagnostic Centre Ltd. is coming out with a fresh public issue to raise Rs 1,894.26 crores from the market.

Key details of the issue:

  • Issue opens – Sept 1 (Wednesday)
  • Issue closes – Sept 3 (Friday)
  • Issue size – Rs 1,894.26 crores
  • Price band – Rs 522 to 531 per equity share
  • Bid lot – 28 shares and in multiples thereof
  • Employee reservation – Equity shares aggregating up to Rs 7.19 crores
  • Employee discount – Rs 52 per share

And here are some details of the company and further details on the Vijaya Diagnostic Centre Ltd. issue.

Company details:

Vijaya Diagnostic Centre Limited is the largest integrated diagnostic chain in southern India, by operating revenue, and also one of the fastest-growing diagnostics chains by revenue for fiscal year 2020 (Source: CRISIL Report). They offer a one-stop solution for pathology and radiology testing services to their customers through their extensive operational network, which consists of 81 diagnostic centres and 11 reference laboratories across 13 cities and towns in the states of Telangana and Andhra Pradesh and in the National Capital Region and Kolkata, as on June 30, 2021.

They offer 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 June 30, 2021. Their test menu includes pathology tests ranging from basic biochemistry and clinical pathology to cytogenetics and high-end molecular diagnostic tests, and radiology tests ranging from basic echocardiograms, X-rays and ultrasounds to advanced radiology tests, including computerised tomography (CT) scans, magnetic resonance imaging (MRI) scans, single photon emission computed tomography (SPECT) and advanced positron emission tomography CT (PET CT). They also offer a broad spectrum of health and wellness packages to their customers as per their requirements.

They focus on a customer-centric approach to enhance the overall quality of their services for optimal customer satisfaction. For the convenience of their customers, they provide value-added services such as home collection of specimens, house calls and various delivery or access modes (that is, at diagnostic centres, SMS, email and the web portal) for test reports.

They have implemented a "hub and spoke" model, whereby specimens are collected across multiple locations within a catchment area or a region for delivery to their reference laboratories for diagnostic testing. This model provides greater economies of scale and enhances consistency of their testing procedures and results.

As of June 30, 2021, all of their laboratories hold National Accreditation Board for Testing and Calibration Laboratories (NABL) and three of their diagnostic centres hold Patient Safety & Quality of Care (NABH) accreditations.

They have received several awards that recognize the strength of their brand and their focus on offering superior diagnostic services. For example, they were recognized as One of the Best Healthcare Brands 2021 by The Economic Times, for Excellence in Quality and Accuracy under the category Leading Diagnostics Company with Excellence in Quality and Safety at the Diagnostics Leadership Summit 2021; Most Trusted Diagnostic Centre of the Year – India at the Indo-Arab Leaders Summit & Awards 2019; Best Diagnostic Centre of the Year by Times Healthcare Achievers, Times of India, in 2019; 10 Most Trusted Brands of the Year by the Business Sight Magazine in 2019; and Telangana Healthcare Leadership Award by the Telangana Government in 2018.

Issue size: Rs 1,894.26 crores

Issue break-up:

  • QIB – 50% of the offer – Rs 943.54 crores
  • NIB – 15% of the offer – Rs 283.06 crores
  • RET – 35% of the offer – Rs 660.47 crores

Employee reservation: Equity shares aggregating up to Rs 7.19 crores

Employee discount: Rs 52 per share

Listing: NSE and BSE

Registrar: KFin Technologies Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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