The initial public offer (IPO) of Vijaya Diagnostic Centre received bids for 1.18 crore shares as against 2.50 crore shares on Thursday (2 September 2021), according to stock exchange data at 17:00 IST. The issue was subscribed 0.47 times.

The issue opened for bidding on Wednesday (1 September 2021) and it will close on Friday (3 September 2021). The price band of the IPO is fixed at Rs 522-531 per share. An investor can bid for a minimum of 28 equity shares and in multiples thereof.

The IPO is a pure offer for sale of 35.68 crore shares by Dr. S. Surendranath Reddy, Karakoram and Kedaara Capital Alternative Investment Fund (AIF)-1. The company will not raise fresh capital for its business from the IPO.

Ahead of the IPO, Vijaya Diagnostic Centre on 31 August 2021 finalized allocation of 1,06,61,418 equity shares to anchor investors, at Rs 531 per equity share, aggregating to Rs 566.12 crore.

Vijaya Diagnostic offers one-stop solution for pathology and radiology testing services to the customers through extensive operational network, which consists of 80 diagnostic centers 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 on 30 June 2021.

The company reported net profit of Rs 32.94 crore and sales of Rs 122.69 crore for the quarter ended 30 June 2021.